Commodities
Oil surges, grains stay hot, metals cool off
Energy is the story of the day, but crops and cocoa keep their momentum too.
Crude posts the day’s biggest headline move. WTI jumps 6.0% to 74.64 and Brent rallies 6.7% to 79.14. The move lines up with Reuters and CNBC headlines about fresh U.S. strikes on Iran, plus MarketWatch’s note that oil prices extend gains after hours.
Gasoline and natural gas do not follow the same path. RBOB gasoline slips 0.6% to 2.937, and natural gas falls 1.5% to 3.217. The diverging moves suggest traders are reacting first to geopolitical crude risk rather than a broad fuel complex bid.
Gold falls 1.4% to 4,088.8999, silver drops 3.5% to 58.82, and copper loses 0.9% to 6.119. Platinum also falls 3.4%. In the metals space, cocoa is the standout, up 6.6% to 6039.0, while corn rises 2.7% to 454.5 and soybeans add 0.7% to 1188.25.
The agricultural board is firmer overall. Corn is up 10.1% for the week, soybeans rise 6.4% for the week, and wheat adds 4.4% for the week. Coffee, by contrast, drops 5.4% on the day, even after a strong month.