LSEG Data & Analytics
February 11, 2026
Inside Commodities
Market ReportCommoditiesEquitiesMacro Economic IndicatorsConsumer StaplesEnergy
The report details a pivot in US-Venezuela oil relations with new exploration licenses and highlights significant data reliability issues at the USDA following massive corn acreage revisions. Global commodity markets face structural deficits in silver and rising European gas demand due to weather-driven hydropower shortages.
Key Takeaways
- 1.The US Treasury issued a general license for oil and gas exploration in Venezuela, following a political transition and the capture of Nicolas Maduro.
- 2.The USDA's reputation for data reliability is suffering after massive, unprecedented revisions to US corn acreage estimates linked to staffing shortages.
- 3.Global silver demand remains steady for 2026, though the market faces a sixth consecutive year of structural deficit.
Table of Contents
- Top News - Oil
- Top News - Agriculture
- Top News - Metals
- Top News - Carbon & Power
- Top News - Dry Freight
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Authors
DhanyaMaguire
Securities
CVXCOPXOMCodelcoCitgo Petroleum
Themes
Commodity Supply DeficitsGeopolitical Energy ShiftsGovernment Data ReliabilityWeather-Driven Energy Volatility
Regions
Latin AmericaNorth AmericaAsia PacificVenezuelaUnited StatesChina