Inside Commodities

The report highlights massive commodity market shifts driven by the Iran war, including record U.S. oil exports, supply threats to Australian wheat and LNG, and corporate restructuring in the gold mining sector.

Key Takeaways

• 1.OPEC+ is likely to increase July oil output targets by 188,000 bpd despite ongoing disruptions in the Strait of Hormuz and the UAE's exit from the group.
• 2.U.S. crude exports reached a record 5.6 million bpd in May as global refiners sought alternatives to Middle Eastern supply blocked by the Iran war.
• 3.Australia's wheat harvest is projected to be the smallest in three years due to high fertilizer costs stemming from the Iran war and dry El Nino conditions.

Table of Contents

• Top News - Oil
• Top News - Agriculture
• Top News - Metals
• Top News - Carbon & Power
• Top News - Dry Freight