Wheat futures dropped below $5.40 per bushel, weighed down by the expanding US winter wheat harvest and a lack of fresh bullish catalysts. Analysts estimate that 11% of the winter wheat crop is now harvested, up from 4% the previous week, with 54% rated in good to excellent condition—unchanged from the prior week. Weekly US wheat export inspections came in at 388,752 metric tons, aligning with market expectations. The USDA slightly raised its 2025/26 US wheat supply outlook, projecting total production at 1.921 billion bushels, with gains in Soft Red and White Winter wheat offsetting lower Hard Red Winter output. Globally, Russian wheat export prices declined amid favorable harvest forecasts, while Romania is expected to achieve a record soft wheat crop this year, driven by expanded planting and improved yields. The combination of ample domestic and international supply continues to exert downward pressure on prices.

Wheat Futures Slide on Strong Harvest Prospects

Brent crude oil futures dropped 1.3% to $73.2 per barrel on Monday, pausing Friday’s sharp 7% rally, as reports indicated Iran was seeking to de-escalate tensions with Israel and resume nuclear negotiations. The decline followed an overnight surge to $77.49 after Israeli strikes targeted Iran’s South Pars gas field and an oil depot near Tehran. Despite the flare-up, market sentiment improved on hopes that the conflict would remain contained, with no significant damage to energy infrastructure or key shipping routes. Traffic through the Strait of Hormuz showed only a slight dip, with 111 ships passing on June 15 compared to 116 on June 12, suggesting minimal disruption to oil flows. Analysts expect the conflict to be short-lived, helping cap further price spikes. Still, risks remain, as Iran has threatened to shut down the Strait of Hormuz — a critical transit route for about a fifth of global oil, a move that could push prices above $100 per barrel.

Brent Falls on Iran De-escalation Hopes

WTI crude oil futures fell 1.7% to settle at $71.80 per barrel on Monday, pausing Friday’s sharp 7% rally, as reports indicated Iran was seeking to de-escalate tensions with Israel and resume nuclear negotiations. The decline followed an overnight surge to $77.49 after Israeli strikes targeted Iran’s South Pars gas field and an oil depot near Tehran. Despite the flare-up, market sentiment improved on hopes that the conflict would remain contained, with no significant damage to energy infrastructure or key shipping routes. Traffic through the Strait of Hormuz showed only a slight dip, with 111 ships passing on June 15 compared to 116 on June 12, suggesting minimal disruption to oil flows. Analysts expect the conflict to be short-lived, helping cap further price spikes. Still, risks remain, as Iran has threatened to shut down the Strait of Hormuz — a critical transit route for about a fifth of global oil, a move that could push prices above $100 per barrel.

WTI Oil Retreats as Iran Signals De-escalation

Palladium futures rose to above $1,030 per ounce, trending near the recent high of $1,083 on June 9th and oscillating with an upward bias, driven by tight supplies and resilient industrial demand. Russian production, which historically accounts for a quarter of global supply, continues to be hampered by sanctions and logistical obstacles, limiting exports.In South Africa, the second-largest producer, major mine shutdowns for maintenance and adverse weather further limited global supply. Demand, although concentrated, remains firm, with about 90% linked to the automotive sector. However, rapid adoption of electric vehicles in China reduces catalytic converter use, with 7.2 million EVs sold in the 1st half of 2025, up 28% on the previous year. Additionally, Trump’s move to double tariffs on steel and aluminum to 50% has rekindled fears of future sanctions on Russian palladium via Section 232, which could increase price pressure and make investors cautious.

Palladium Rises Above $1,000 per Ounce Again

Platinum prices surged to $1,260 per ounce, hitting a four-year high and extending a 41% year-to-date rally. The bullish trend is driven by tight supply, rising jewellery restocking, and stronger investor sentiment post-London Platinum Week. A key catalyst has been the sharp drop in the gold/platinum ratio,  historically a signal of platinum strength. With gold still firm amid Middle East tensions, particularly involving Israel and Iran, platinum continues to gain as a cheaper jewellery alternative. Demand has grown sharply in Asia, with fabrication and restocking gaining pace. Platinum’s industrial use in hydrogen energy, diesel catalysts, and electronics also supports its resilience. Unless gold corrects sharply, the falling gold/platinum ratio strengthens the case for further gains.

Platinum Surges as Gold Ratio Falls

Heating oil futures fell to $2.35 per gallon on Monday, easing from a 3-1/2-month high of $2.38 reached Friday, amid easing geopolitical tensions. The decline tracked broader energy markets after a report suggested Iran is seeking talks with the US and Israel to de-escalate hostilities. Iran reportedly sent messages via Arab intermediaries signaling openness to negotiate, provided the US refrains from joining the conflict. Although renewed strikes occurred over the weekend, markets were reassured by the lack of damage to Iran’s oil infrastructure and only minor declines in cargo traffic through the Strait of Hormuz. As of June 15, 111 ships transited the Strait, slightly down from 116 on June 12. Meanwhile, warmer-than-usual weather forecast through June 26 may curb heating oil demand, adding further pressure on prices despite the ongoing geopolitical uncertainty.

US Heating Oil Futures Fall from 3-1/2-Month High

Sugar futures edged up to around 16.3 cents per pound, but remained close to their lowest since April 2021,  as the market remains attentive to the progress of global harvests. Brazil, India and Thailand have reported strong productivity, which maintains pressure on international prices of the sweetener. Meanwhile, dealers said that sugar production in Center-South Brazil was a stronger-than-expected 2.95 million metric tons in the second half of May, up 8.9% from the same period last year. In the meantime, two weather officials said that India's moonsoon has revived after stalling for more than a fortnight, and rains are set to cover central parts of the country this week, bringing relief from the heatwave in the grain-growing northern regions.

Sugar Futures Up But Hover Near 2021-Lows

Gold fell slightly below $3,400 per ounce on Monday after testing record highs at $3,465 earlier in the session as softer concerns over hostilities between Israel and Iran limited demand for safety. Reports indicated that Tehran is willing to restart nuclear talks with the US, signaling willingness to halt the exchange of missiles four days after the start of air strike exchanges. This extended risk-on sentiment as the conflict so-far avoided attacking essential infrastructure for global energy markets. In the meantime, the Federal Reserve is expected to hold its rates unchanged this week. Also, the Summary of Economic Projections will unveil how FOMC members balance risks of a rebound in inflation with a softening labor market amid the period of economic uncertainty. Recent economic data, particularly last week’s soft inflation report, has bolstered expectations that the central bank could begin easing policy as early as September.

Gold Pulls Back Below $3,400

Sunflower oil futures fell below $1,240 per tonne in June, marking a seven-month low as mounting supplies and cheaper alternatives eroded its premium. In the Black Sea, ample soybean-oil inventories, fueled by record US crush volumes that lifted stocks to a ten-month high, and weakening palm-oil quotes prompted buyers to switch away from sunflower oil, driving FOB values down. Concurrently, early-season harvest forecasts in the EU improved with recent rains, and Ukrainian farmers’ plans to expand sunflower plantings by 10–15% have bolstered anticipated output, leading domestic processors to curb purchases and push local prices lower. On June?11, India further relieved downward pressure by cutting its basic customs duty on crude sunflower oil from 20% to 10%, widening the duty gap to 19.25% and lowering landed costs for Asian importers, thereby undercutting global export premiums.

Sunflower Oil at 7-Month Lows

Cotton futures remained relatively stable at 65.4 cents per pound as traders evaluated the latest supply and demand outlook. The US Department of Agriculture (USDA) in its June report revealed a downward revision for US cotton production in 2025–26, now estimated at 14 million bales, down from 14.5 million bales in May and 14.4 million bales in 2024–25. This marks the second-lowest production level in the past decade. Along with this decline, ending stocks for 2025–26 are forecast to fall to 4.3 million bales, a significant drop from the May projection of 5.2 million bales. On the global front, cotton production for 2025–26 has been revised down to 116.99 million bales, from 117.81 million bales in May, largely due to declines in key producers like India, the US and Pakistan, despite a 1-million-bale increase in China. Global cotton consumption has also been revised down, with the 2025–26 forecast reduced by more than 300,000 bales to 117.76 million bales, signaling weaker demand.

Cotton Futures Hover Around 65.4 Cents

US gasoline futures fell 2% to below $2.20 per gallon on Monday, retreating from a 10-week high of $2.237 hit Friday, as fears of an Israel-Iran escalation eased. A report said Iran is signaling readiness to restart nuclear talks and sent messages to the US and Israel via Arab intermediaries, provided the US stays out of the conflict. This helped reduce geopolitical risk premiums. Meanwhile, cargo traffic through the Strait of Hormuz showed only a slight dip, and no major oil infrastructure damage has occurred, further calming markets. Despite renewed strikes over the weekend, investors believe the conflict may remain contained. Still, the Strait remains critical, handling nearly 20% of global oil flows. On the demand side, US gasoline usage fell sharply to 8.26 million b/d from 9.45 million, according to the EIA. Inventories rose by 5.2 million barrels to 228.3 million, while production slipped to 9 million b/d, adding to bearish sentiment despite the summer driving season.

Gasoline Futures Fall from 10-Week High

Brent crude oil futures dropped by over 4% to $71.1 per barrel on Monday, reversing some of Friday’s 7% surge, as fears of a broader Israel-Iran war eased. A report indicated Iran is signaling interest in ending hostilities and restarting nuclear talks, provided the US stays out of the conflict. Tehran reportedly sent messages via Arab intermediaries to both Washington and Tel Aviv. This softer tone helped ease market concerns, leading investors to unwind some risk-off positions. Meanwhile, traffic through the key Strait of Hormuz showed only a slight decline, as 111 ships passed on June 15 vs 116 on June 12, suggesting no major disruption to oil flows. Still, the strait remains a critical chokepoint, handling roughly 20% of global oil trade.

Brent Crude Oil Pulls Back Over by Over 4%

WTI crude oil futures dropped by over 4% to $69.5 per barrel on Monday, reversing some of Friday’s 7% surge, as fears of a broader Israel-Iran war eased. A report indicated Iran is signaling interest in ending hostilities and restarting nuclear talks, provided the US stays out of the conflict. Tehran reportedly sent messages via Arab intermediaries to both Washington and Tel Aviv. This softer tone helped ease market concerns, leading investors to unwind some risk-off positions. Meanwhile, traffic through the key Strait of Hormuz showed only a slight decline, as 111 ships passed on June 15 vs 116 on June 12, suggesting no major disruption to oil flows. Still, the strait remains a critical chokepoint, handling roughly 20% of global oil trade.

Oil Falls by Over 4%

The Baltic Exchange's dry bulk sea freight index, which tracks rates for vessels transporting dry commodities, rose about 0.4% to its highest since October 2 at 1,975 points, buoyed by all vessel segments. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, went up 0.2% to a fresh high since July 2024 at 3,731 points; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, increased 0.6% to an over ten-week high of 1,410 points. Among smaller vessels, the supramax index added 3 points to a near two-week high of 939 points.

Baltic Dry Index at Over 8-Month High

Uranium futures in the US were at $70 per pound, inching lower from the four-month high of $72 as markets continued to assess how the uncertain supply outlook in the US will impact the scarcity of nuclear fuel. The US allocated up to $2.7 billion in funding to support uranium supply and enrichment capacity, reducing supply pressures amid the gradual home away from imports of Russian nuclear fuel. In the meantime, US President Trump signed an order to cut regulations and accelerate licenses for nuclear reactors and power plants, likely bringing forward the adoption of a higher share of nuclear power and lifting demand for uranium. The move signaled that the new administration was supportive of the sector and paved the way for tech companies to use nuclear power to sustain power-hungry data centers. In turn, lack of clarity on future levies on uranium imports from Canada and Kazakhstan maintained the stress on the limited domestic capacity.

Uranium Inches Lower from 4-Month High

Cocoa futures rose slightly above $9,800 per tonne, their highest level in a week, as the volatility in the market continues. Recent forecasts of beneficial rainfall in West Africa, particularly in Ivory Coast and Ghana, have fueled optimism for improved crop yields, but uncertainty and quality concerns still linger. Latest data showed cocoa arrivals at ports in top grower Ivory Coast had reached 1.659 million metric tons by June 15 since the start of the season on October 1, up 6.2% from the same period last season and down from the much larger +35% increase seen in December. Meanwhile,  there have been reports of higher cocoa flows from Nigeria, alongside expectations of increased production in countries across Asia and Central America.

Cocoa Futures Up to 1-Week High

Wind Energy Index increased to a 26-month high of 18.19 USD. Over the past 4 weeks, Wind Energy Index gained 7.84%, and in the last 12 months, it increased 7.06%.

Wind Energy Index Hits 26-month High

US natural gas futures rose to $3.70 per MMBtu, tracking broader gains across energy markets amid escalating tensions in the Middle East. Israel struck two natural gas facilities in Iran over the weekend, raising fears that the war will expand to energy infrastructure and disrupt supplies in the region. In the US, rapid growth in LNG exports is raising concerns about tightening supply and upward pressure on prices later this year. In the short-term, warmer-than-normal weather is expected through June 26, which may drive up cooling demand. In addition, forecasts call for hotter-than-normal temperatures across much of the US, which could boost demand for gas-fired cooling and exacerbate pressure on inventories. Also, average gas output in the Lower 48 states eased to 105.0 bcfd so far in June, slightly below May’s 105.2 bcfd and well below March’s record of 106.3 bcfd, due to routine spring maintenance.

US Natgas Prices Rise for 2nd Session

Newcastle coal futures rose to $105 per tonne in June, the highest in four months and extending the momentary respite since hitting a four-year low of $93.7 in late April amid signs of slight traction in demand. Trade data showed that seaborne imports of thermal coal from major consumers India and China picked up to a five-month high in May. This was aligned with China's state planner's call for power plants to refill domestic stockpiles by 10% to take advantage of lower prices. Front-month Newcastle contracts remained over 15% down on the year amid the ongoing oversupply of thermal coal. Chinese fossil-fuel power output dropped by 4.7% annually in the first quarter amid lower power demand and strong supply from renewable energy sources. On the supply front, domestic production in China rose 4% from the previous year in May, aligned with the earlier signal that it plans to boost output by 1.5% to 4.82 billion tons this year after the record amount of output in 2024.

Thermal Coal Rises to 4-Month High

Lead increased to a 4-week high of 2002.00 USD/T. Over the past 4 weeks, Lead gained 1.77%, and in the last 12 months, it decreased 7.2%.

Lead Hits 4-week High

Cocoa futures traded lower around $9,600 per tonne, supported by recent forecasts for beneficial rainfall in Western Africa. Additionally, farmers in to grower Ivory Coast indicated that sufficient soil moisture is helping the April-to-September mid-crop develop, with hopes for a balanced combination of rain and sunshine to enhance yields, despite ongoing quality concerns. On the data front, government data showed cocoa arrivals in ports in Ivory Coast totalled 17,000 metric tons in the week to June 15, down from 25,000 tons in the same week of the previous season. Meanwhile, concerns grew about the potential impact on global commodity demand if the conflict between Israel and Iran drags on.

Cocoa Futures Down

WTI crude oil futures hovered around $73 per barrel on Monday, easing after surging over 5.5% earlier and following a 7% rally on Friday. The retreat came as investors scaled back risk-off trades amid signs that the Israel-Iran conflict may not escalate further. Traders now believe the tensions are likely to remain contained, especially as Iran’s oil infrastructure remains untouched. However, renewed strikes by both countries over the weekend kept markets on edge, raising fears of broader regional instability. A key concern is potential disruption to the Strait of Hormuz, a critical chokepoint through which about 18–19 million barrels per day, or roughly 20% of global oil consumption, passes. While direct supply impacts have been limited so far, geopolitical risks remain elevated. Meanwhile, Iran canceled nuclear talks with the US that were set for Sunday in Oman.

Oil Pares Gains

Brent crude oil futures hovered around $74 per barrel on Monday, easing after surging over 5.5% earlier and following a 7% rally on Friday. The retreat came as investors scaled back risk-off trades amid signs that the Israel-Iran conflict may not escalate further. Traders now believe the tensions are likely to remain contained, especially as Iran’s oil infrastructure remains untouched. However, renewed strikes by both countries over the weekend kept markets on edge, raising fears of broader regional instability. A key concern is potential disruption to the Strait of Hormuz, a critical chokepoint through which about 18–19 million barrels per day, or roughly 20% of global oil consumption, passes. While direct supply impacts have been limited so far, geopolitical risks remain elevated. Meanwhile, Iran canceled nuclear talks with the US that were set for Sunday in Oman.

Oil Halts Rally

Iron ore futures rose to around CNY 706 per tonne on Monday, recovering modestly but remaining within a recent trading range as investors digested mixed economic signals from China—the world’s top steel producer and iron ore consumer. Retail sales in China grew more than expected in May, posting the fastest increase in 15 months and suggesting resilience in household demand. However, industrial production missed expectations, expanding at its slowest pace in six months and underscoring persistent headwinds in the manufacturing sector.  Meanwhile, the China Iron and Steel Association recently flagged growing strain on domestic steelmakers amid an intensifying price war in the electric vehicle sector. Automakers are reportedly pressuring suppliers to lower steel plate prices, putting further pressure on already tight industry margins.

Iron Ore Edges Higher as Markets Weigh China Data

European natural gas futures surged above €38/MWh, the highest in over ten weeks, driven by escalating tensions between Israel and Iran. The conflict has heightened fears of a broader war that could disrupt energy flows from the Middle East. A major concern is the potential threat to the Strait of Hormuz, a crucial shipping route for nearly 20% of global LNG trade. Although Qatari LNG accounts for under 4% of European supply, a blockade could cause global supply dislocations. European LNG demand has risen since losing most Russian pipeline gas, making stable flows vital ahead of winter restocking. Meanwhile, traders are watching for possible disruptions in Norway, the region’s largest pipeline gas supplier. Additionally, hotter-than-normal weather across Europe is boosting demand for cooling, with forecasts showing above-average temperatures and peak air conditioning use expected in the coming weeks.

TTF Prices Rise to Over 10-Week High

Steel rebar futures climbed toward CNY 3,000 per tonne on Monday, rebounding from last week’s losses as investors weighed the latest economic indicators from China, the world’s largest steel consumer. May retail sales in China rose more than expected, marking the strongest growth in 15 months and signaling potential resilience in consumer demand. However, industrial production expanded at its slowest pace in six months, highlighting ongoing challenges in the broader industrial sector. The Israel-Iran war also remained in focus, as continued attacks on energy infrastructure disrupted markets and fueled concerns over global economic stability. Meanwhile, the China Iron and Steel Association recently warned that a growing price war in the electric vehicle sector is placing additional pressure on steelmakers. Automakers are reportedly pushing suppliers to cut prices on steel plates used in vehicle manufacturing, further squeezing industry margins.

Steel Rises as Traders Assess China Data

Silver prices held firm around $36.40 per ounce on Monday, hovering near their highest levels since 2012, supported by robust industrial demand, ongoing supply shortages, and heightened safe-haven appeal amid geopolitical uncertainty. The metal’s growing role in solar power, electronics, and broader electrification trends now accounts for more than half of global demand, reinforcing its long-term structural importance. On the supply side, the silver market is grappling with its fifth consecutive annual deficit. While the Silver Institute projects the shortfall will narrow by 21% in 2025, supply constraints remain a key driver of price strength. Meanwhile, the Israel-Iran conflict continued over the weekend, with both countries targeting critical energy infrastructure and fueling broader market volatility. Investors are also closely watching the US Federal Reserve’s upcoming policy decision, with the central bank widely expected to keep interest rates unchanged.

Silver Steady Near 13-Year Highs

Malaysian palm oil prices surged over 3.5% to over MYR 4,050 per tonne, marking gains for the second session and hitting their highest level in seven weeks. The rally tracked strength in rival soyoil on the Chicago and Dalian exchanges, alongside a further rise in crude oil prices amid geopolitical tensions. On the export front, shipments rose 26.3% from the same period in May to 662,580 metric tons during June 1–15, Intertek Testing Services reported. An industry expert also noted recently that exports may peak around August. In top buyer India, palm oil imports jumped 84% in May from April to a six-month high, driven by low inventories and wider discounts to soyoil and sunflower oil. However, gains were capped by concerns over rising inventories, with end-May stocks climbing 6.7% to 1.99 million tonnes — the highest since September 2024 and the third monthly increase. Meanwhile, production is expected to keep rising through September, supported by favorable weather and replanting.

Palm Oil Extends Rally to 7-Week High

Copper futures climbed above $4.75 per pound on Monday, recovering some losses from the prior session as broader market sentiment steadied despite ongoing geopolitical tensions. The conflict between Israel and Iran continued over the weekend, with both nations striking each other’s energy infrastructure, pushing oil prices higher and reinforcing inflationary concerns. The developments are expected to keep the Federal Reserve cautious, with the central bank widely anticipated to hold rates steady on Wednesday. Markets also currently see no likelihood of a rate cut in July. In China—the world’s largest copper consumer—recent data painted a mixed economic picture. Retail sales in May exceeded expectations, while industrial production came in below forecasts, suggesting uneven momentum in the post-pandemic recovery.

Copper Prices Rise as Market Sentiment Stabilizes

Palm Oil increased to a 7-week high of 4071.00 MYR/T. Over the past 4 weeks, Palm Oil gained 0.05%, and in the last 12 months, it decreased 0.48%.

Palm Oil Hits 7-week High

Gold rose to around $3,440 per ounce on Monday, hovering near all-time highs reached in April, as growing tensions in the Middle East drove investors toward safe-haven assets. Israel and Iran launched fresh attacks over the weekend, heightening fears that escalating battle could trigger a broader regional conflict. Markets are now looking ahead to the US Federal Reserve’s policy meeting later this week. While the Fed is widely anticipated to keep interest rates unchanged, investor focus will be on any forward guidance regarding the timing and scope of future rate cuts. Recent economic data — particularly last week’s softer-than-expected inflation report — has bolstered expectations that the central bank could begin easing policy as early as September. Investors are also awaiting further clarity on US President Donald Trump’s tariff plans, as he would be setting tariff rates on trading partners in the coming weeks.

Gold Holds Near Record Highs

Nuclear Energy Index increased to a 11-year high of 37.44 USD. Over the past 4 weeks, Nuclear Energy Index gained 28.58%, and in the last 12 months, it increased 22.35%.

Nuclear Energy Index Hits 11-year High

Brent crude oil futures climbed to $75.1 per barrel on Monday, extending gains for a second consecutive session after Israel and Iran exchanged attacks over the weekend, heightening fears that escalating tensions could disrupt crude supplies from the Middle East. Israel launched an attack on the giant South Pars gas field in the Persian Gulf, leading to the shutdown of a production platform, following airstrikes on Iran’s nuclear facilities and military leadership last week. On Friday, crude prices closed 7% higher, having surged more than 13% intraday to reach their highest levels since January, amid fears the conflict could widen and impact a key oil-producing region. Adding to market unease, US President Donald Trump said last week he would be setting tariff rates for trading partners over the coming weeks, while details on US-China framework agreement remain unclear.

Brent Climbs Further on Israel-Iran Conflict

WTI crude oil futures climbed to $74.1 per barrel on Monday, extending gains for a second consecutive session after Israel and Iran exchanged attacks over the weekend, heightening fears that escalating tensions could disrupt crude supplies from the Middle East. Israel launched an attack on the giant South Pars gas field in the Persian Gulf, leading to the shutdown of a production platform, following airstrikes on Iran’s nuclear facilities and military leadership last week. On Friday, crude prices closed 7% higher, having surged more than 13% intraday to reach their highest levels since January, amid fears the conflict could widen and impact a key oil-producing region. Adding to market unease, US President Donald Trump said last week he would be setting tariff rates for trading partners over the coming weeks, while details on US-China framework agreement remain unclear.

Oil Climbs Further on Israel-Iran Conflict

Oil prices extended the rally at the start of the week after Israel and Iran exchanged attacks over the weekend, heightening fears that escalating tensions could disrupt crude supplies from the Middle East. Brent was above $76, the highest in five minths after surging almost 6% earlier in the sesson and closing Friday's session 7% higher. Israel launched an attack on the massive South Pars gas field in the Persian Gulf, leading to the shutdown of a production platform, following airstrikes on Iran’s nuclear facilities and military leadership last week.

Brent Trades Above $76

Oil prices extended the rally at the start of the week after Israel and Iran exchanged attacks over the weekend, heightening fears that escalating tensions could disrupt crude supplies from the Middle East. Crude was near $75, the highest in six minths after surging almost 6% earlier in the sesson and closing Friday's session 7% higher. Israel launched an attack on the massive South Pars gas field in the Persian Gulf, leading to the shutdown of a production platform, following airstrikes on Iran’s nuclear facilities and military leadership last week.

Crude Oil Surges for 2nd Session

Solar Energy Index increased to a 4-week high of 35.20 USD. Over the past 4 weeks, Solar Energy Index gained 0.03%, and in the last 12 months, it decreased 22.87%.

Solar Energy Index Hits 4-week High

Brent crude oil futures rallied over 6% to $73.7 per barrel on Friday, paring some gains after hitting their highest level since February, as fears of a broader conflict in the Middle East intensified following Israel’s strike on Iran. While the attacks did not directly target oil infrastructure, investors remain wary of potential retaliation, especially given Iran’s strategic control near the Strait of Hormuz—a critical chokepoint for global oil shipments. Iran's April crude output stood at 3.305 million barrels per day, underscoring the region’s vital role in global energy supply. Adding to the bullish sentiment, data from the International Energy Agency showed a larger-than-expected drop in U.S. crude inventories last week, suggesting firm demand. Despite mounting geopolitical tensions, the IEA reassured markets that it holds 1.2 billion barrels of emergency reserves and stands ready to intervene if necessary.

Brent Rallies on Middle East Tensions, Supply Concerns

WTI crude oil futures surged over 6% to $72.70 per barrel on Friday, paring some gains after hitting their highest level since February, as fears of a broader conflict in the Middle East intensified following Israel’s strike on Iran. While the attacks did not directly target oil infrastructure, investors remain wary of potential retaliation, especially given Iran’s strategic control near the Strait of Hormuz—a critical chokepoint for global oil shipments. Iran's April crude output stood at 3.305 million barrels per day, underscoring the region’s vital role in global energy supply. Adding to the bullish sentiment, data from the International Energy Agency showed a larger-than-expected drop in U.S. crude inventories last week, suggesting firm demand. Despite mounting geopolitical tensions, the IEA reassured markets that it holds 1.2 billion barrels of emergency reserves and stands ready to intervene if necessary.

WTI Oil Jumps as Israel Strikes Iran

Wheat futures rallied 3% to above $5.40 per bushel on Friday, bouncing back from a four-week low amid bargain buying and improved sentiment across the grain complex. The recovery was supported by strength in soybeans and corn, which surged following the Biden administration’s proposed biofuel blending mandate. Traders viewed wheat’s recent dip as a buying opportunity, particularly with global supply concerns lingering. Additional momentum came from a sharp rise in crude oil prices after Israel launched airstrikes on Iran, heightening geopolitical risks and boosting broader commodity markets. Wheat also benefited from technical buying and the improved market tone. Meanwhile, the USDA slightly raised its 2025/26 U.S. wheat supply outlook, projecting total production at 1.921 billion bushels—up 115,000 from last month—thanks to increases in Soft Red and White Winter wheat that offset lower Hard Red Winter output.

Wheat Futures Rebound

Soybean futures climbed above $10.65 per bushel on Friday, hitting a three-week high after the Trump administration proposed biofuel blending requirements that surpassed market expectations. The rally followed the Environmental Protection Agency’s plan to increase the volume of biofuels that refiners must blend into the nation’s fuel supply over the next two years. Soyoil, a key biodiesel feedstock, surged on the news. Analysts said the move would significantly boost domestic soybean crush demand in 2026 and 2027. The proposal was seen as a major victory for the biofuels industry, which had been actively lobbying for such changes. Adding to the bullish sentiment, soybean prices were further supported by a sharp rise in crude oil prices after Israel launched airstrikes on Iran early Friday.

Soybean Rallies to 3-Week High on Biofuel Mandate

The Baltic Exchange's dry bulk sea freight index, which tracks rates for vessels transporting dry commodities, advanced 3.4% to 1968 points on Friday, the highest level since October. The capesize index, which typically transports 150,000-ton cargoes such as iron ore and coal, soared 4.7% to 3722 points, the highest since July; and the panamax index, which usually carries 60,000-70,000 tons of coal or grain, rose 1.9% to a more than two-month high of 1401 points. Among smaller vessels, the supramax index increased 3 points to a near one-week high of 936 points. On the week, the Baltic index soared 20.5%.

Baltic Exchange Dry Index Jumps 20% on the Week

Rapeseed increased to a 4-week high of 494.00 EUR/T. Over the past 4 weeks, Rapeseed gained 1.9%, and in the last 12 months, it increased 5.5%.

Rapeseed Hits 4-week High

Canola increased to a 20-month high of 736.40 CAD/T. Over the past 4 weeks, Canola gained 2.1%, and in the last 12 months, it increased 21.2%.

Canola Hits 20-month High

Soybeans increased to a 4-week high of 1071.00 USd/Bu. Over the past 4 weeks, Soybeans lost 0.97%, and in the last 12 months, it decreased 9.42%.

Soybeans Hits 4-week High

Canola increased to a 4-week high of 735.30 CAD/T. Over the past 4 weeks, Canola gained 1.74%, and in the last 12 months, it increased 20.76%.

Canola Hits 4-week High

Heating oil futures surged past $2.30 per gallon, reaching their highest level since late February, amid mounting Middle East tensions. Israel launched airstrikes on Iran, targeting nuclear facilities, missile production sites, and top military officials, calling it the beginning of a long-term campaign to prevent Tehran from acquiring nuclear weapons. In response, Iran fired around 100 drones toward Israeli territory. The flare-up comes ahead of the sixth round of US-Iran nuclear talks, set for Sunday in Oman. Meanwhile, EIA data showed a surprise supply build, with distillate inventories rising by 1.246 million barrels—twice the expected increase—and heating oil stocks climbing by 487,000 barrels, the largest weekly gain since January.

Heating Oil Hits 3-Month High as Middle East Tensions Escalate

US gasoline futures rose above $2.20 per gallon, briefly touching $2.30 for the first time since April 2, as escalating Middle East tensions fueled supply concerns. Israel launched strikes on Iran, targeting nuclear sites, ballistic missile facilities, and senior military commanders, calling the action the beginning of a sustained effort to prevent Tehran from developing a nuclear weapon. In response, Iran fired around 100 drones toward Israeli territory. The escalation comes just days before the sixth round of US-Iran nuclear talks, set for Sunday in Oman. Adding to price support, US crude inventories fell by 3.644 million barrels last week, exceeding market expectations of a 2.5 million-barrel draw, according to EIA data. Stockpiles at the Cushing hub also declined by 403,000 barrels. However, gasoline and distillate inventories rose more than expected, increasing by 1.504 million and 1.246 million barrels, respectively.

Gasoline Futures Jump on Middle East Escalation

UK natural gas futures approached 91 pence per therm, the highest level since early April, as part of a broader surge across energy markets driven by escalating tensions in the Middle East. The rally followed Israel’s wave of strikes against Iran, targeting nuclear infrastructure and military facilities, and resulting in the deaths of two senior commanders. Israel has warned of further action, while Iran has vowed retaliation and already deployed drones toward Israeli territory. The situation has heightened concerns over potential disruptions to LNG shipments from Qatar, one of the world’s largest exporters and a key supplier to the UK. The UK is particularly vulnerable to supply shocks due to limited domestic storage capacity and a reliance on imports via continental Europe. With Russian pipeline flows halted following the expiration of the Ukraine transit deal, Europe has increasingly turned to LNG to meet its needs, intensifying competition for supply and driving prices higher.

UK Natural Gas Prices Highest Since April

US natural gas futures edged above $3.50 per MMBtu, tracking broader gains across energy markets amid escalating tensions in the Middle East. However, the increase was more muted compared to the sharp moves seen in oil and other gas benchmarks. The geopolitical spike followed Israel’s wave of strikes against Iran. Meanwhile, US natural gas fundamentals remain relatively stable. Storage levels have improved since a colder-than-expected winter depleted inventories. According to the EIA, the week ending June 6 saw another triple-digit storage build. While inventories are 9% lower year-over-year, they remain 5.4% above the five-year seasonal average, signaling adequate supply. Still, the rapid growth in LNG exports is raising concerns about tightening supply and upward pressure on prices later this year. In addition, forecasts call for hotter-than-normal temperatures across much of the US, which could boost demand for gas-fired cooling and exacerbate pressure on inventories.

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