From Investing.com: 2025-06-16 04:48:00

Commodities markets are closely watching the escalating tensions between Israel and Iran, leading to a surge in oil prices. Israel’s recent attacks on Iran’s energy infrastructure have raised concerns about energy security and supply. Oil prices jumped significantly on Friday, with potential disruptions in the Strait of Hormuz causing further price increases.

Gold prices are on the rise as tensions in the Middle East increase, nearing a record high. The conflict could push gold prices even higher in the coming days. Meanwhile, base metals like copper are facing pressure after China reported a decline in new home prices, potentially impacting demand for these metals.

China’s primary aluminum production increased by 5% year-on-year in May, while crude steel production fell by 6.9% compared to last year. These contrasting trends reflect the impact of government policies on production levels in the country. Speculators have increased their long positions in commodities like oil and gold, anticipating further price movements.



Read more at Investing.com: Oil Outlook Turns Bullish as Conflict Risks Overtake Supply Surplus