Commodity news live
Here are some of the latest commodity news updates:
Energy
- Oil prices rise as OPEC+ agrees to modest output increase (Reuters) - Oil prices rose on Thursday after OPEC+ agreed to increase oil output by 400,000 barrels per day (bpd) in July, a move that was seen as modest and unlikely to flood the market.
- Natural Gas prices surge as heatwave hits US (Bloomberg) - Natural gas prices surged to a two-week high on Thursday as a heatwave in the US boosted demand for the fuel.
Metals
- Gold prices fall as dollar strengthens (MarketWatch) - Gold prices fell on Thursday as the US dollar strengthened, making the precious metal more expensive for holders of other currencies.
- Copper prices rise on supply concerns (The Wall Street Journal) - Copper prices rose on Thursday as concerns over supply disruptions in top producer Chile and other major producers boosted demand.
Agriculture
- Soybean prices fall on US-China trade deal hopes (Reuters) - Soybean prices fell on Thursday as hopes for a US-China trade deal boosted demand for the oilseed, which is a key ingredient in animal feed and biofuels.
- Wheat prices rise on dry weather in US (Bloomberg) - Wheat prices rose on Thursday as dry weather in the US, a major producer of the grain, raised concerns over crop yields.
Livestock
- Cattle prices fall on US-China trade deal hopes (The Wall Street Journal) - Cattle prices fell on Thursday as hopes for a US-China trade deal boosted demand for beef, which is a key export for the US.
- Pork prices rise on African Swine Fever outbreak (Reuters) - Pork prices rose on Thursday as an outbreak of African Swine Fever in China, the world's largest pork consumer, boosted demand for the meat.
Other Commodities
- Coffee prices rise on supply concerns (Bloomberg) - Coffee prices rose on Thursday as concerns over supply disruptions in top producer Brazil boosted demand.
- Sugar prices fall on global surplus (The Wall Street Journal) - Sugar prices fell on Thursday as a global surplus of the sweetener boosted supply and put downward pressure on prices.
Please note that commodity prices can fluctuate rapidly and may be affected by a wide range of factors, including global economic conditions, weather events, and political developments.