Commodities
Oil jumps as Iran tensions ripple through energy
Crude rallies, grains keep climbing, and metals mostly firm.
Energy is the loudest commodity story of the day. WTI crude rises 2.3% to 79.9, Brent gains 2.5% to 85.36, and gasoline falls 3.9% to 3.0425 after a strong week-to-date move. CNBC says U.S. airstrikes in Iran and the Strait of Hormuz flare-up are pushing oil higher.
Natural gas adds 0.7% to 2.918, while the refined-fuels move is more volatile than outright crude. WTI is up 13.4% on the week and Brent is up 15.1% on the week.
Metals are firmer. Gold rises 1.5% to 4058.2, silver gains 2.5% to 59.08, copper climbs 2.1% to 6.3665, and platinum adds 2.5% to 1642.2. FXStreet says softer U.S. inflation is helping gold.
Agriculture is hot too. Corn jumps 5.0% to 459.5, wheat rises 2.7% to 644.0, soybeans slip 1.0% to 1190.5, sugar gains 1.2% to 14.92, coffee falls 4.2% to 327.0, and cocoa surges 4.2% to 5936.0.