July 16, 2026 10:54 am
Key Moments Oil prices extended gains for a third consecutive session amid rising US-Iran tensions and continued pressure on tanker traffic through the Strait of Hormuz. Large second-quarter inventory drawdowns and the approaching end of global SPR releases have left the crude market more vulnerable to supply disruptions. Physical benchmarks such as Dated Brent and […]
Read moreJuly 16, 2026 10:22 am
Key Moments Domestic hot-rolled coil spot prices averaged about $1,160 per short ton in the week of July 13, up from $855/st in the same week of July 2025. Plate spot prices hovered around $1,350/st, approximately 24% above the $1,090/st level seen in the comparable week of July 2025. Market participants report tight supply, scarce […]
Read moreJuly 16, 2026 9:34 am
Key Moments Asyad Shipping reported net profit of OMR 38.95m ($101.3m) for the first half of 2026, up from OMR 20.2m a year earlier. Revenue increased to OMR 172m from OMR 165m as freight rates and time charter earnings grew across all shipping sectors. The company sold four older LNG carriers for $110m and ordered […]
Read moreJuly 16, 2026 9:08 am
Key Moments WTI traded just under $79.00 during the Asian session on Thursday, down more than 1% after hitting an over one-month high earlier in the week. Rising US-Iran tensions, including military strikes and the closure of the Strait of Hormuz, continued to underpin the bullish outlook for crude. Technical signals, including a break above […]
Read moreJuly 16, 2026 8:08 am
Key Moments LME aluminum cash offer price moved down 0.55% to USD 3,153.5 per tonne on July 15. LME aluminum opening stocks declined 0.57% to 284,600 tonnes, with cancelled warrants dropping 3.92%. The LME aluminum three-month Asian Reference Price was reported at USD 3,150 per tonne on July 15. Spot Aluminum Prices Edge Lower The […]
Read moreJuly 16, 2026 7:21 am
Key Moments XAG/USD trades near $57.00 per troy ounce, marking a second straight day of declines during Asian hours on Thursday. Softer June US CPI at 3.5% and PPI at 5.5% eased immediate rate-hike fears and pushed September Fed hike odds down to about 44%. Rising US-Iran tensions in the Strait of Hormuz are lifting […]
Read moreJuly 16, 2026 5:49 am
Key Moments WTI trades near $79.50 in early Asian hours on Thursday, hovering close to a one-month high. Fresh US strikes on Iranian coastal military assets and actions to secure the Strait of Hormuz have heightened supply risk concerns. US crude inventories for the week ending July 10 declined by 1.693 million barrels, undershooting expectations […]
Read moreJuly 15, 2026 2:24 pm
Key Moments The benchmark front-month Dutch gas contract climbed 3% to 54.40 euro per MWh, its highest level since March 30. Escalating U.S.-Iran conflict and risks to LNG flows through the Strait of Hormuz have reignited supply concerns. Europe’s storage injections are lagging, forcing buyers into intensified competition with Asian importers for spot LNG cargoes. […]
Read moreJuly 15, 2026 2:13 pm
Key Moments Aluminum prices increased 0.40 per cent to settle at INR 339.80 (USD 3.57), supported by low exchange inventories and supply concerns. LME inventories stayed at their lowest level since 2022, while SHFE stocks declined 4.8 per cent, signaling robust physical demand. Morgan Stanley expects the global aluminum market deficit to narrow during 2026 […]
Read moreJuly 15, 2026 1:45 pm
Key Moments The Brent futures curve moved back into backwardation this week, reflecting renewed concerns over near-term crude supply. The September Brent contract traded at $85.79 per barrel early Wednesday, standing $8 per barrel above the six-month forward contract at $77.49. A brief period of contango across key Middle Eastern benchmarks ended after fresh hostilities, […]
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