Commodity prices surge due to demand for California rebuild, oil prices rise

From Investing.com: 2025-01-10 10:06:00

Commodity prices are surging due to increased demand to help rebuild California. Oil prices are rising as refiners and producers brace for record demand during the coldest January in 11 years. India, China, and other countries are buying up oil ahead of potential sanctions on Iran, Russia, and Venezuela. US crude oil imports from Canada hit a record high as President Trump plans a 25% tariff. Ethanol exports also reached a seven-month high. Algo traders are losing ground in the market, with humans outperforming them for the second year in a row. Natural gas prices are on the rise due to cold weather forecasts.



Read more at Investing.com: The Energy Report: Fire Cold Rebuild