Commodities
Oil, corn and wheat surge while gasoline gets hit
Energy and grains dominate the commodity tape, with crude and ags pushing higher and gasoline sliding sharply.
WTI crude rises 1.1% to 80.18 and Brent gains 0.8% to 85.39. Both benchmarks sit above their 200-day averages, and both are up more than 9.0% over the past week.
Gasoline is the sharp outlier in energy. RBOB falls 3.9% to 3.1003. CNBC Markets points to traders watching gas prices cross 4.00 by the end of July, while the supplied data show gasoline still well above its 200-day average.
Grains rip higher. Corn jumps 8.2% to 469.25, and wheat climbs 7.4% to 677.75. Soybeans slip 0.5% to 1201.75, but remain up 7.9% over the past month.
Metals are mixed. Gold edges up 0.2% to 4067.1001, silver falls 1.1% to 58.13, copper rises 0.9% to 6.384, platinum jumps 3.6% to 1690.0, and cocoa gains 4.5% to 5917.0. CNBC and OilPrice headlines also keep attention on higher energy costs and Hormuz-related supply risks.