From Investing.com: 2025-05-21 01:56:00

Oil prices surged this morning on reports of a possible Israeli strike on Iranian nuclear facilities, driving up geopolitical risks in the energy market. NYMEX WTI rose over 2%, but market skepticism remains. US crude inventories increased by 2.5m barrels, while European gas prices climbed 5% due to outages in Norway.

China’s gold imports hit an 11-month high at 127.5 metric tonnes, up 73% from the previous month. Gold prices have risen over 20% this year, peaking at $3,500/oz. China also saw record monthly copper production, while global aluminum output remained steady in April. Central bank buying and geopolitical risks are key drivers.

CBOT wheat futures rose 3.2% on supply concerns from dry weather affecting the US wheat crop. The USDA cut the winter wheat crop rating to 52% good-to-excellent. ING’s publication provides information on the commodity markets, not investment advice. Visit the original post for more details.



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