Commodities Daily Move

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Gold / oil / copper / ag commodities — today's move and what drove it.

Commodities Daily Move09/06/2026, 15:11:33

Oil Pulls Back as Iran-Israel Pause Holds; Gold Bounces to $4,345 Ahead of Wednesday CPI

Iran and Israel halted Monday's exchange of strikes following a Trump-brokered pause, sending Brent back below $93.50 and WTI under $90 by Tuesday morning. Gold recovered from its 11-week low of $4,268 to ~$4,345 as NY inflation expectations eased to 3.46%, though Fed rate-hike odds remain at 70%. Copper is flat on the COMEX while LME warehouse stocks drain 6% ahead of the June 30 tariff deadline. CPI Wednesday (+4.2% est.) is the week's defining event.

Commodities Daily Move08/06/2026, 15:10:58

Oil Rips 4% as Israel Breaks Lebanon Truce; Gold Slips Further Toward $4,270 on Rate-Hike Odds at 72%

Israel struck Lebanon overnight, breaking the June 3 truce, and Iran retaliated — pushing WTI above $94 (+4.3%) and Brent near $97.50 (+4.7%). OPEC+'s +188K bpd quota hike is near-irrelevant as physical output has already collapsed from 42.77 to 33.19 Mbpd. Gold fell 1% to $4,288 as Fed rate-hike odds hit 72% (CME) following the NFP shock; 10-yr yield at a two-week high. Copper eased 0.4%; iron ore near $101.75. Corn stabilizes around 416¢. Wednesday CPI (est. +4.2%) is the week's fulcrum — a hot print makes the June 16-17 FOMC meeting a live hike.

Commodities Daily Move07/06/2026, 15:13:36

OPEC+ Hikes on Paper, Not in Pipelines; Gold Tests Annual Support After −4.9% Weekly Drop

OPEC+ approved a symbolic +188K bpd quota hike today, but physical output has already collapsed from 42.77 Mbpd pre-war to 33.19 Mbpd — the quota change barely moves the needle. Gold closed Friday at $4,324, down ~12% from its year-to-date high and testing annual support at $4,300. Wednesday US CPI (est. +4.2% YoY) and Thursday ECB hike are the next catalysts. Copper at $6.2755/lb; corn extending its 12-of-13 losing streak.

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