Commodities Daily Move

Hormuz oscillation drags crude, gold, and grains — copper bucks the trend

The May 27 commodity morning briefing covers overnight moves across energy, precious metals, industrial metals, and agriculture — all framed by the US-Iran Strait of Hormuz standoff. WTI crude fell 3.5%+ on peace-talk optimism and resumed LNG tanker transits, grains dropped via the ethanol/biodiesel demand channel, and gold slid 1.4% as rate-hike expectations hardened. Copper stood apart near a historic monthly closing record. Thursday's April Core PCE release and the EIA inventory report are the next market-moving events.