Commodity

India shifts ethanol procurement to corn and rice as weak rainfall threatens sugar output and domestic prices touch record highs.

WTI crude rose 6.5% this week, while Brent held above $105 a barrel. US commercial crude inventories fell 8.6 million barrels last week, a decline far larger than the market had expected, according to the US Energy Information Administration. Geopolitical tensions in the Middle East continued to pose risks to supply, lending further support to oil prices.

Global copper supply could struggle to keep pace with rising demand from AI data centres, power grids and electric vehicles, with projections pointing to a potential 30% shortfall by 2035.

Chicago wheat futures fell to a two-month low on Friday as supply pressure from the US corn harvest and a recovery in Russian wheat exports weighed on prices, analysts said.

Spot gold held near $4,170 an ounce while silver edged higher. U.S. consumer prices rose 3.7% year over year in September and producer prices climbed 1.3% on the month, the largest monthly gain since March 2022, as rising energy costs deepened inflation concerns. Federal Reserve Chair Kevin Warsh gave no signal of an October rate increase, and traders kept the odds of a December hike near 89%. A softer dollar and lower Treasury yields over the week supported precious metals.

Coffee prices may stay volatile despite a looming surplus as exchange stockpiles remain low and Brazil shipments pick up. Read more at straitstimes.com.

A poor sugarcane crop in India, the world’s second-largest producer, is hurting consumers and farmers — plus undermining the country’s energy security goals

By Kirk Maltais -Soybeans for November delivery fell 1% to $12.64 1/4 a bushel on the Chicago Board of Trade on Thursday, after NOPA's monthly soybean crush report showed September crushings at...

The International Energy Agency will release more than 20 million barrels of diesel as soon as possible and accelerate the rest of its emergency oil draw,