Commodities Daily Move

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Gold / oil / copper / ag commodities — today's move and what drove it.

Commodities Daily Move09/06/2026, 15:11:33

Oil Pulls Back as Iran-Israel Pause Holds; Gold Bounces to $4,345 Ahead of Wednesday CPI

Iran and Israel halted Monday's exchange of strikes following a Trump-brokered pause, sending Brent back below $93.50 and WTI under $90 by Tuesday morning. Gold recovered from its 11-week low of $4,268 to ~$4,345 as NY inflation expectations eased to 3.46%, though Fed rate-hike odds remain at 70%. Copper is flat on the COMEX while LME warehouse stocks drain 6% ahead of the June 30 tariff deadline. CPI Wednesday (+4.2% est.) is the week's defining event.

Commodities Daily Move08/06/2026, 15:10:58

Oil Rips 4% as Israel Breaks Lebanon Truce; Gold Slips Further Toward $4,270 on Rate-Hike Odds at 72%

Israel struck Lebanon overnight, breaking the June 3 truce, and Iran retaliated — pushing WTI above $94 (+4.3%) and Brent near $97.50 (+4.7%). OPEC+'s +188K bpd quota hike is near-irrelevant as physical output has already collapsed from 42.77 to 33.19 Mbpd. Gold fell 1% to $4,288 as Fed rate-hike odds hit 72% (CME) following the NFP shock; 10-yr yield at a two-week high. Copper eased 0.4%; iron ore near $101.75. Corn stabilizes around 416¢. Wednesday CPI (est. +4.2%) is the week's fulcrum — a hot print makes the June 16-17 FOMC meeting a live hike.

Commodities Daily Move07/06/2026, 15:13:36

OPEC+ Hikes on Paper, Not in Pipelines; Gold Tests Annual Support After −4.9% Weekly Drop

OPEC+ approved a symbolic +188K bpd quota hike today, but physical output has already collapsed from 42.77 Mbpd pre-war to 33.19 Mbpd — the quota change barely moves the needle. Gold closed Friday at $4,324, down ~12% from its year-to-date high and testing annual support at $4,300. Wednesday US CPI (est. +4.2% YoY) and Thursday ECB hike are the next catalysts. Copper at $6.2755/lb; corn extending its 12-of-13 losing streak.

Commodities Daily Move06/06/2026, 15:12:17

NFP Shock Drags Gold to $4,340 and Oil Below $91; OPEC+ Meets Sunday

May payrolls doubled the consensus at +172K, flipping rate-hike odds to 65% and hitting all major commodities hard on Friday. Gold fell 3.27% to $4,339.61 — worst day in months. WTI crude dropped 3% to $90.25, copper lost 4%, corn extended to a 12th loss in 13 sessions. OPEC+ meets Sunday with a ~188K bpd quota hike expected.

Commodities Daily Move05/06/2026, 15:11:08

Gold Holds $4,459 Pre-NFP; Oil Steady Near $95 as Iran Deal Stalls Before OPEC+ Weekend

Gold consolidates near $4,459–$4,481 ahead of the 8:30 AM ET May NFP print (consensus +85K), with 52% market odds of a Fed hike by year-end keeping rate-hike caution in play. Brent flat near $95 as no US-Iran ceasefire is signed. Copper −1.92%; iron ore at lowest since early March on China steel margin squeeze. Corn extends its bearish streak at 424.5¢. OPEC+ meets Saturday.

Commodities Daily Move04/06/2026, 15:10:43

Oil Slips on Israel-Lebanon Ceasefire; Gold Rebounds to $4,495 Ahead of NFP

Oil retreated after Israel and Lebanon agreed to a conditional ceasefire, erasing Hormuz-fear premiums built over the week. Gold bounced +0.62% to $4,494.80 as rate-hike pressure eased. Copper slid −0.70%; iron ore hit a six-week low at $102.70 on China steel margin pressure; corn extended its streak to 10 losses in 11 sessions. NFP Friday (consensus +80K) and OPEC+ Saturday are the next catalysts.

Commodities Daily Move03/06/2026, 15:10:47

Oil Extends Gains as Iran Talks Collapse; Gold Slips on Rate-Hike Threat

Brent +0.8% to $96.81 and WTI +1.0% to $94.67 after Iran suspended talks and launched overnight missile strikes on Bahrain and Kuwait. Gold fell 0.3–0.8% to ~$4,471–4,499 as the oil surge fired rate-hike expectations (Cleveland Fed's Hammack: hike may be needed 'in the near future'). LME copper eased 0.43% to $13,980/t on profit-taking; iron ore slid 1.22% to $103.95/t on steel-margin pressure and seasonal weakness. Corn and soybeans fell on favorable U.S. crop weather. ADP payrolls and ISM Services PMI due today; NFP Friday; OPEC+ June 7.

Commodities Daily Move02/06/2026, 15:09:18

Gold Reclaims $4,535 as Iran Walks Out; Oil Eases on Conflicting Signals

Iran suspended US nuclear talks overnight, citing Israeli strikes in Lebanon — Trump immediately contradicted the report. Gold rebounded 1.14% to $4,535 after Monday's 1.3% drop. Oil slipped ~1% from Monday's surge but kept its Hormuz risk premium (WTI $91.57, Brent $94.34). LME copper gained 1.51% on a China Caixin PMI beat of 51.8. Iron ore held above $109; corn edged down 0.56%. ADP employment and ISM Services due today; NFP on Friday.

Commodities Daily Move01/06/2026, 15:04:56

Oil Surges 2.6% as US-Iran Trade Weekend Strikes; Gold Eases to $4,521

WTI crude rose 2.6% to $89.65 and Brent climbed 2.25% to $93.17 after weekend US-Iran exchanges and Israel's renewed Lebanon push stalled ceasefire talks. Gold slipped 0.3% to $4,521 on a stronger dollar and rate-hike risk. Copper gained on a US tariff deadline catalyst; corn and soybeans bounced in tandem with oil via the biofuel link. ISM Manufacturing PMI lands today; NFP on Friday.

Commodities Daily Move31/05/2026, 15:04:33

Oil Wavers as Trump Rewrites the Iran Deal; Gold Holds $4,538 — Week-Ahead Outlook

Brent fell 19% in May — its worst month since March 2020 — as markets priced an Iran ceasefire that remains unsigned. Weekend news: Trump seeking edits to the deal, Iran adviser calls it overreach. Gold holds $4,538 after recovering from the 200-DMA breach at $4,365. Copper ended May +5%. Key week ahead: Iran deal binary + NFP Friday June 5.

Commodities Daily Move30/05/2026, 15:03:05

Oil Sinks 19% for May as Iran Deal Bets Hold; Gold Closes Week at $4,539

WTI and Brent crude shed another 1.7% Friday and posted their steepest monthly decline since 2020 (−19%) as traders priced a U.S.-Iran ceasefire extension despite Chevron CEO confirming multiple fresh Hormuz ship attacks. Gold recovered sharply from Thursday's 200-DMA breach ($4,365 low) to close at $4,539 (+0.97%); Wall Street sentiment flipped 75% bullish for next week. Corn fell 1.81% on technical selling; iron ore dipped 0.20% to $108.82; copper was near flat.

Commodities Daily Move29/05/2026, 15:04:39

Oil Retreats 1.5% as Hormuz Tankers Move; Gold Reclaims $4,500 on Soft GDP

WTI and Brent crude reversed Thursday's Iran-strike spike (−1.5%) as tankers began clearing the Strait of Hormuz for the first time since March. Gold reclaimed $4,500 (+0.60%) after soft Q1 GDP (+1.6%) and core PCE (+3.3%) data pressured the dollar. Copper held near flat; iron ore was unchanged at $109; corn slipped 0.52% on a technical sell-off.