Market Intelligence Hub

US Crude Inventories Defy Expectations with 0.913 Million Barrel Drawdown

The EIA reported a surprise decline of 0.913 million barrels in crude oil stocks for the week ending April 10, contrasting sharply with the expected 0.154 million barrel build. Gasoline and distillate stocks also fell significantly more than anticipated, driven by a 0.524 million bpd jump in weekly gasoline demand.

10h

Oil Prices Retrace as U.S.-Iran Diplomatic Hopes Pressure Crude Futures

Oil prices declined for a second consecutive session on Wednesday as market participants weighed the potential for resumed diplomatic talks between the U.S. and Iran. Brent crude fell 0.55% to $94.27, while WTI dropped 1.1% to $90.24 amid hopes for a resolution to the Strait of Hormuz blockade.

Oil Prices Decline for Second Session as Potential U.S.-Iran Diplomatic Breakthrough Looms

Crude oil prices fell on Wednesday following reports that U.S.-Iran peace talks may resume, potentially restoring supply through the Strait of Hormuz. Brent crude dropped 0.55% to $94.27, while WTI fell 1.1% to $90.24 amid shifting geopolitical expectations.

EIA Crude Inventory Report Looms as Markets Brace for Federal Reserve Beige Book

Traders are preparing for the Energy Information Administration's weekly crude oil inventory report on April 15, following a previous build of 3.081 million barrels. The data release coincides with high-impact Federal Reserve commentary and the release of the Beige Book, signaling potential volatility for energy and USD-linked assets.

22h

EIA Crude Oil Inventories and Fed Beige Book Take Center Stage on April 15

The Energy Information Administration (EIA) is set to release weekly crude oil inventory data on Wednesday, April 15, 2026, following a previous build of 3.081M barrels. Market participants are also bracing for a heavy slate of Federal Reserve speakers and the release of the Beige Book to gauge economic health.

Tuesday, April 14

US API Crude Inventories Surge 3.72M Barrels as Gasoline Stocks Post Sharp Decline

United States crude oil inventories rose by 3.72 million barrels for the week ended April 3rd, marking the fourth consecutive weekly build. While crude stockpiles expanded, gasoline inventories saw a significant drawdown of 3.97 million barrels, offering a mixed signal for energy markets.

WTI CrudeUSD/CAD

US API Crude Inventories Surge by 3.72 Million Barrels as Gasoline Stocks Plunge

United States crude oil inventories rose by 3.72 million barrels for the week ended April 3rd, marking the fourth consecutive weekly build. In contrast, gasoline stockpiles saw a significant drawdown of 3.97 million barrels, exceeding the previous week's decline.

WTI CrudeUSD/CAD

Crude Oil WTIBrent OilUSD/CAD

OPEC Slashes Q2 Oil Demand Forecast by 500,000 BPD Amid Iran Conflict

OPEC has reduced its second-quarter global oil demand forecast by 500,000 barrels per day, citing the impact of the ongoing war in Iran. Despite the quarterly downgrade to 105.07 million bpd, the group maintained its full-year growth outlook of 1.38 million bpd.

OPEC Slashes Q2 Oil Demand Forecast by 500,000 BPD Amid Iran Conflict

OPEC has lowered its second-quarter global oil demand forecast by 500,000 barrels per day due to the ongoing war in Iran and the closure of the Strait of Hormuz. Despite the near-term reduction to 105.07 million bpd, the producer group maintained its full-year growth outlook of 1.38 million bpd, anticipating a consumption rebound.

Monday, April 13

Crude OilBrent OilUSD/CADEnergy Stocks

OPEC Slashing Q2 Demand Forecast by 500,000 BPD Amid Iran War and Hormuz Closure

OPEC has lowered its second-quarter global oil demand forecast by 500,000 barrels per day due to the impact of the Iran war and the closure of the Strait of Hormuz. Despite the quarterly downgrade, the producer group maintained its full-year demand growth prediction of 1.38 million bpd.

China Extends Gold Buying Streak to 17 Months Despite Record Price Volatility

The People’s Bank of China continued its gold accumulation for a 17th consecutive month in March, despite the metal experiencing its steepest monthly decline since 2008. While gold was pressured by the Iran war and shifting interest rate expectations, long-term central bank demand remains a critical pillar of support.

XAU/USDSilverUSD/CHF

China Extends Gold Buying Streak to 17 Months Despite Record Price Volatility

The People’s Bank of China continued its gold accumulation for the 17th consecutive month in March, even as the metal experienced its sharpest monthly decline since 2008. While gold has faced recent pressure from shifting interest rate expectations and the Iran war, it remains up over 48% on a one-year basis.

GoldSilverUSD/CHF

Strait of Hormuz Blockade Threatens Global Supply, European Gas Prices Signal Monday Jump

European natural gas futures are prepared for a significant price jump following President Donald Trump's announcement of a naval blockade at the Strait of Hormuz. The US military is scheduled to begin the operation at 10 a.m. Eastern Time, potentially cutting off vital LNG shipments and intensifying competition for global energy supplies.

Natural Gas

Sunday, April 12

Gold Breaks Above $2400 on US-Iran Ceasefire & Dollar Weakness

Gold prices surged, breaking above the critical $2400/ounce level for the first time, fueled by weakened US Dollar sentiment following US-Iran ceasefire talks and heightened safe-haven demand. This significant move underscores ongoing geopolitical uncertainty and robust central bank buying, as reported by The Economic Times.

GoldSilverUSD/JPY

Saturday, April 11

Low

US Oil Rig Count Dips to 508, Signaling Potential Supply Tightening

The latest US Baker Hughes Oil Rig Count showed a marginal decline, with the number of active rigs falling to 508 from the previous 510. This slight contraction in drilling activity suggests a potential tightening of future oil supply, prompting a modest upward reaction in crude oil prices.

Crude Oil

Gold Surges Past Record Highs, MCX Gold Logs 2% Weekly Gain Amid Safe-Haven Demand

Gold prices have reached new all-time highs, with MCX gold recording a 2% weekly gain, driven by increased safe-haven demand and central bank buying. This surge reflects persistent geopolitical tensions and evolving monetary policy expectations.

GoldSilverUSD/JPY

OPEC Maintains Oil Demand Growth Forecasts Amidst Market Volatility, Crude Steady

OPEC's April 2026 Monthly Oil Market Report (MOMR) kept its global oil demand growth forecasts unchanged at 2.25 million barrels per day (mb/d) for 2026, defying some market expectations for a revision. This stability in outlook helped crude oil prices find support, with WTI futures trading largely flat post-release.

Friday, April 10

Crude OilNatural GasUSD/CADOil & Gas Stocks

OPEC+ Maintains Production Cuts, Brent Crude Climbs 1.2% Amid Middle East Tensions

OPEC+ announced its decision to maintain current oil production cuts through the second quarter of 2026, extending voluntary reductions until Q3. This move, reported by The Daily Star, provided a floor for oil prices, with Brent Crude rising 1.2% to $90.87 per barrel, as ongoing Middle East geopolitical concerns add to supply uncertainty.

Tuesday, April 7

Apr 7

OPEC+ Maintains Production Cuts Amid Demand Concerns, Crude Oil Drops 1.8%

OPEC+ announced its decision to maintain current oil production cuts following its Joint Ministerial Monitoring Committee (JMMC) meeting in April 2026, expressing concerns over the global demand outlook. This move, which was largely anticipated, led to an immediate 1.8% drop in Crude Oil prices as traders assessed the implications for supply-demand dynamics.

Monday, April 6

Apr 6

Gold Prices Surge 1.2% to $2350, Signaling Persistent Inflationary Pressures

Gold prices surged 1.2% to $2350 per ounce in early April 2026, building on significant gains from the prior year and signaling renewed safe-haven demand amidst ongoing inflationary concerns. This notable increase has put precious metals back in focus for investors and traders, impacting correlated assets like Silver and the USD/CHF pair.

GoldSilverUSD/CHF

Tuesday, March 31

Mar 31

OPEC+ Extends Production Cuts, WTI Crude Jumps 2.8% to $82.50

OPEC+ nations have agreed to maintain current production cuts and extend them through Q2 2026, a decision announced after their March 2026 meeting. This move underscores the cartel's commitment to market stability and sent WTI Crude Oil prices soaring 2.8% to $82.50, while the Canadian Dollar strengthened against the USD.

Wednesday, March 25

Mar 25

Gold Soars 3% to $4,565 Amid Escalating US-Iran Tensions, Easing Inflation Fears

Spot gold prices surged nearly 2% to $4,551.50 per ounce, with April futures climbing over 3% to $4,565.60/oz, driven by safe-haven demand as US-Iran talks intensified, paradoxically easing broader inflation concerns that typically weigh on the precious metal. This sharp move highlights geopolitical risk as a primary driver for gold, overshadowing recent oil price dips.

OPEC+ Hints at 137,000 BPD Output Hike for April, Crude Oil Futures React

Speculation from Reuters sources indicates OPEC+ is considering a 137,000 barrels per day (bpd) oil output increase for April, a move that could temper rising crude prices. This comes as Brent crude nears its highest levels since July, prompting market participants to closely watch the upcoming March 1 meeting for confirmation.

Tuesday, March 24

Mar 24

Oil Prices Surge on Heightened Supply Concerns, Brent Hits $86.50

Global oil benchmarks experienced an upward fluctuation today amid escalating supply concerns. Brent crude rose 0.8% to $86.50 per barrel, while WTI gained 0.7% to $82.20 per barrel, driven by geopolitical tensions and their potential impact on energy production.

OPEC+ Meeting Sparks Oil Volatility Amid Production Quota Uncertainty

Recent commentary from the OPEC+ meeting on March 24, 2026, has ignited significant volatility in crude oil markets. Conflicting reports regarding potential production quota adjustments have left traders guessing, leading to sharp price swings as the market seeks clarity on future supply.

Gold Prices Surge 1.5% to $2200/oz Amidst Escalating Geopolitical Tensions

Gold prices soared by 1.5% to reach $2200 per ounce on March 24, 2026, driven by heightened geopolitical concerns that sparked a significant flight to safety. This move pushed the precious metal beyond its previous resistance levels, signaling a renewed investor appetite for traditional safe-haven assets.

GoldSilverUSD/JPY

Crude OilNatural GasGoldSilver+2

Monday, March 23

Mar 23

Low

Commodity Prices Fluctuate: Crude Oil Dips, Gold Holds Steady Amid Market Uncertainty

Commodity markets experienced a mixed session on March 23, 2026, with Crude Oil prices seeing a modest dip while Gold and Silver showed resilience. This movement comes as traders assess ongoing geopolitical tensions and the broader economic outlook, creating a nuanced landscape for commodity-linked currencies like AUD/USD and CAD/USD.

Friday, March 20

Mar 20

Crude Oil (WTI)Crude Oil (Brent)USD/CAD

US Crude Inventories Surge Unexpectedly, WTI Plummets $1.80

U.S. crude oil inventories saw a significant, unexpected jump in the latest Energy Information Administration (EIA) report for the week ending March 15, 2026. This substantial build, far exceeding analyst expectations, immediately triggered a sharp sell-off in crude oil futures and bolstered the US Dollar against commodity-linked currencies.

Thursday, March 19

Mar 19

US Crude Inventories Surge by 18,721 Th. Barrels, WTI Plunges Over $1.50

US crude oil and petroleum product inventories unexpectedly surged by 18,721 thousand barrels to 1,689,065 thousand barrels for the week ending March 15, 2026, according to the EIA. This significant build, reversing the previous week's draw, sent WTI crude prices sharply lower as concerns over softening demand and ample supply resurfaced.

Tuesday, March 17

Mar 17

API Crude Stock Plummets by 4.1M Barrels, Oil Futures Jump 1.2%

US crude oil inventories, as reported by the American Petroleum Institute (API), unexpectedly fell by 4.1 million barrels for the week ending March 14, 2026. This significant draw, far exceeding consensus estimates for a modest build, immediately propelled WTI crude futures higher by over 1.2% as supply concerns resurfaced.

Monday, March 16

Mar 16

Oil Prices Brace for Supply Shock as US Tools Dwindle Post-OPEC+ Commentary

Recent commentary from Reuters highlights a critical shortage of US tools to absorb potential oil supply shocks, particularly from ongoing Middle Eastern geopolitical tensions, following the latest OPEC+ meeting. This suggests increased vulnerability for crude oil markets with significant implications for energy prices and related currency pairs like USD/CAD. With strategic reserves depleted and domestic production near limits, the market faces heightened risk.

Wednesday, March 11

Mar 11

OPEC March Report Signals Tighter Market, Brent Crude Jumps 1.8% to $85.50

OPEC's March 2026 Monthly Oil Market Report (MOMR) indicated a significantly tighter global oil market, revising up its 2026 demand growth forecast by 100,000 barrels per day (bpd) to 2.3 million bpd. This bullish outlook, coupled with an unchanged non-OPEC supply forecast, sent Brent crude oil prices surging to $85.50 a barrel.

Tuesday, March 10

Mar 10

OPEC March 2026 MOMR Trims Global Oil Demand Forecast, Crude Prices Slip 0.75%

OPEC's latest Monthly Oil Market Report (MOMR) for March 2026 reduced its global oil demand growth forecast by 50,000 barrels per day (bpd) to 2.15 million bpd for the year, citing concerns over economic slowdowns in several key regions. This downward revision, published by opec.org, led to an immediate decline in crude oil prices, with WTI futures dropping 0.75%.

Tuesday, March 3

Mar 3

Crude Oil (WTI)Brent CrudeUSD/CAD

OPEC+ Modest 206k BPD Output Hike Overshadowed by Hormuz Disruptions, Crude Spikes

Despite OPEC+'s decision to increase crude oil output by a modest 206,000 barrels per day (bpd) from April 2026, the market largely ignored the move. Instead, lingering concerns over potential disruptions in the Strait of Hormuz dominated sentiment, causing Crude Oil (WTI) to climb over 2.5% and Brent Crude to rise by a similar margin.

Monday, March 2

Mar 2

OPEC+ Boosts Oil Output by 2.9M BPD, Crude Surges Over 3% on Supply Concerns

OPEC+ nations have agreed to increase oil production quotas by approximately 2.9 million barrels per day (bpd) from April through December 2025, a move representing roughly 3% of global demand. This decision, influenced by potential disruptions from heightened geopolitical tensions, led to an immediate surge in crude oil prices, reflecting market anxiety over future supply adequate to meet demand.

Sunday, March 1

Mar 1

Crude OilNatural GasGoldSilver

Gold Soars $200 as US-Israel Strike on Iran Ignites Safe-Haven Demand

Gold prices surged by an estimated $200/ounce at the commodity market open on March 1, 2026, following reports of a joint US-Israel strike on Iran. This immediate spike reflects a significant flight to safety amidst escalating geopolitical tensions, causing broad market volatility across commodities.

Crude OilNatural GasGoldSilver

Saturday, February 28

Feb 28

Low

Iran War Threatens Oil Market with 'Biggest Crisis in Decades', Crude Jumps to $95.80

Geopolitical tensions escalated dramatically over the weekend, with reports from Reuters indicating that a potential war in Iran could plunge the oil market into its "biggest crisis in decades." This threat immediately sent Crude Oil prices surging, with futures opening significantly higher and reaching $95.80 a barrel, reflecting acute supply concerns from the Middle East.

Friday, February 27

Feb 27

US Crude Inventories Surge by 11.2 Million Barrels, Oil Plunges 3.5%

US crude oil inventories unexpectedly jumped by a massive 11.2 million barrels for the week ending February 21, 2026, according to the EIA. This significant build, far exceeding expectations, sent WTI crude oil prices tumbling by over 3.5% and caused immediate volatility across energy-related assets and currency pairs like USD/CAD.

Thursday, February 26

Feb 26

US Crude Oil Inventories Surge by 16 Million Barrels, WTI Drops 2.8%

US crude oil inventories unexpectedly surged by 16 million barrels for the week ending February 26, 2026, according to the EIA, reaching 435.8 million barrels. This significant build, far exceeding analyst expectations, immediately pressured oil prices and strengthened the US Dollar against commodity-linked currencies like the CAD.

Wednesday, February 25

Feb 25

Crude OilGoldAUD/USDCAD/USD

US Crude Oil Stockpiles Surge, Gold Dips on USD Strength

US crude oil inventories unexpectedly posted a large weekly build, defying expectations and putting downward pressure on oil prices. Simultaneously, gold prices edged lower as the US Dollar strengthened ahead of upcoming political remarks, triggering risk-off sentiment in precious metals.

Friday, February 20

Feb 20

US Oil Rig Count Flat at 551 for Second Week, Crude Futures Unmoved

The US Baker Hughes Oil Rig Count remained unchanged at 551 for the second consecutive week in February 2026, signaling a pause in drilling activity. This flat reading, reported by Baker Hughes via Seeking Alpha, had a muted immediate impact on crude oil and natural gas futures.

Wednesday, February 18

Feb 18

Crude OilNatural GasUSD/CAD

OPEC+ Leans Towards April Output Hike, Crude Oil Drops 2.8%

OPEC+ is reportedly leaning towards increasing oil output from April 2026, a move that sent crude oil prices down sharply. This potential shift signals a more hawkish stance from the cartel, anticipating peak summer demand and impacting energy markets globally.

Tuesday, February 17

Feb 17

OPEC+ Maintains Oil Output Policy, Crude Prices Hold Steady

The OPEC+ Joint Ministerial Monitoring Committee (JMMC) concluded its meeting on February 17, 2026, opting to maintain current oil production levels without further adjustments. This decision, as reported by OPEC.org, signals a 'wait-and-see' approach amidst fluctuating global demand and geopolitical tensions, leading to a relatively subdued market reaction in crude oil prices.

Monday, February 16

Feb 16

Gold Prices Dip 0.75% Amid Geopolitical Tensions, USD/CHF Rallies

Gold prices eased by 0.75% on February 16, 2026, dropping to $2015 per ounce, as markets weighed persistent Middle East geopolitical tensions against a lack of fresh escalations. This dip, despite underlying support from safe-haven demand, saw the USD/CHF pair gain 25 pips, reflecting a nuanced market reaction.

GoldUSD/CHFJPY/USD

Friday, February 13

Feb 13

Crude OilNatural GasUSD/CADUSD/NOK

OPEC's February 2026 MOMR: Oil Market Outlook Firm Amid Geopolitical Tensions

OPEC's February 2026 Monthly Oil Market Report (MOMR) did not provide specific numerical revisions to demand or supply forecasts, but its narrative reinforced a tightening global oil market outlook. This qualitative assessment, delivered by OPEC on February 11, 2026, highlighted persistent geopolitical risks and robust global demand projections, leading to an immediate uptick in crude oil prices and a broader strengthening of commodity-linked assets.

Thursday, February 12

Feb 12

OPEC Maintains Steady Oil Demand Forecast for 2026, Crude Holds Gains

OPEC's latest Monthly Oil Market Report for February 2026 projected steady global oil demand growth at 2.25 million barrels per day (mb/d) for the year, largely unchanged from its previous assessment. This stability, despite ongoing geopolitical tensions, provided underlying support to crude oil futures, which had already seen upward momentum.

Wednesday, February 11

Feb 11

Crude OilNatural GasUSD/CAD

OPEC+ Signals Q2 Surplus, Oil Prices Edge Lower Ahead of March Decision

OPEC+ internal data indicates a potential crude oil supply surplus in Q2 2026, leading to a cautious stance from the cartel ahead of its critical March 1 meeting. This news suggests a potential shift from the current production freeze, putting downward pressure on oil prices and impacting related currency pairs like USD/CAD.

Tuesday, February 10

Feb 10

OPEC's Steady Oil Outlook Soothes Volatility, Crude Holds Above $80

OPEC's February 2026 Monthly Oil Market Report (MOMR) confirmed a largely unchanged crude oil demand forecast for 2026, projecting global demand to grow by 2.25 million barrels per day (mb/d) to average 106.21 mb/d. This stable outlook, alongside minor adjustments to non-OPEC supply, provided a degree of calm to a market recently buffeted by geopolitical tensions, helping WTI crude maintain its footing above the $80 per barrel mark.

Monday, February 9

Feb 9

OPEC+ Maintains Output Cuts, Brent Crude Jumps 1.8% to $84.20

OPEC+ members, led by Saudi Arabia and Russia, concluded their Joint Ministerial Monitoring Committee (JMMC) meeting on February 1, 2026, opting to maintain current oil production levels. This decision, widely anticipated, signals a continued commitment to market stability and immediately sent Brent Crude futures up 1.8% to $84.20, reinforcing a tightening supply outlook.

Thursday, February 5

Feb 5

OPEC+ Maintains Oil Output Pause, Brent Spikes 3.1%

OPEC+ members have reportedly agreed in principle to maintain their planned pause in oil output hikes for March 2026, a decision initially set in November. This news sent Brent crude futures surging 3.1% early Friday, indicating a continued supply-side constraint in the global energy markets.

OPEC+ Maintains Output Policy; Crude Oil Holds Steady

The OPEC+ Joint Ministerial Monitoring Committee (JMMC) concluded its February 2026 meeting without recommending any changes to the current oil production policy, signaling a continued cautious approach to market stability. This decision, widely anticipated, left crude oil prices largely flat, as market participants had already priced in a steady-as-she-goes stance.

OPEC+ Holds Output Steady, Crude Oil Futures Edge Up 0.8%

OPEC+ announced it would maintain its current oil production policy for March, opting against additional cuts despite ongoing geopolitical tensions. This decision led to a modest 0.8% increase in Crude Oil futures, reflecting a market that had largely priced in the status quo.

US Natural Gas Inventories Plunge by 280 Bcf, Futures Surge 4.5%

US natural gas inventories recorded a significant draw of 280 Bcf for the week ending January 23, 2026, far exceeding analyst expectations and leading to a sharp rally in natural gas futures. This substantial reduction from storage indicates robust demand amidst colder weather conditions.

Natural Gas Storage Plummets by 266 Bcf, Boosting Prices by 3.5%

US natural gas storage saw a significant draw of 266 billion cubic feet (Bcf) for the week ending January 23, 2026, far exceeding market expectations and the previous week's decline. This unexpected tightening of supply sent natural gas futures soaring by 3.5% and also impacted currency pairs like USD/CAD.

US Natural Gas Storage Decline Exceeds Forecast by 37 Bcf, Fuels Price Spike

US Natural Gas storage saw a significant draw of -297 Bcf for the week ending January 30, 2026, far surpassing the consensus estimate of -260 Bcf and the prior week's -219 Bcf. This larger-than-expected decline immediately sent Natural Gas futures (NG1!) soaring by over 4.5% as supply concerns mounted amid colder weather forecasts.

Natural Gas

Wednesday, February 4

Feb 4

EIA Crude Inventories Surge by 4.2 Million Barrels, Oil Prices Drop 2.1%

US crude oil inventories unexpectedly jumped by 4.2 million barrels for the week ending January 30, 2026, according to the EIA. This significant build, far exceeding expectations for a draw, sent WTI crude prices down 2.1% and strengthened the US Dollar against the Canadian Dollar.

Tuesday, February 3

Feb 3