The latest Market Talks covering Commodities. Published exclusively on Dow Jones Newswires throughout the day.
0831 ET - U.S. natural gas futures start the week higher with the front-month testing $3 for the first time since the end of March. Technical factors and rising weekend cooling demand forecasts are lifting trader expectations, while LNG feedgas demand remains subdued, Eli Rubin of EBW Analytics says in a note. Speculator short positions are at an 18-month high, making risks of a short squeeze high although "far from a foregone conclusion," he says. Nymex natural gas is up 3.4% at $3.061/mmBtu.(anthony.harrup@wsj.com)
0619 ET - Palm oil futures closed higher, with the Bursa Malaysia Derivatives contract for August delivery ending 96 ringgit higher at 4,533 ringgit a metric ton. Prices likely tracked overnight gains in rival vegetable oils, say Kenanga Futures analysts in a note. Continued delays to the Strait of Hormuz's reopening due to the Middle East conflict could also support prices, say Kenanga Futures analysts in a note. They peg the support and resistance levels for the August futures contract at 4,400 ringgit and 4,520 ringgit, respectively. (megan.cheah@wsj.com)
0402 ET - European natural-gas prices break above 50 euros a megawatt-hour as traders see little sign of a resolution in the Middle East. "We have highlighted several times that the gas market is underpricing the scale of the supply impact from the Persian Gulf," analysts at ING say. "Asian buyers will need to enter the spot market to replace disrupted contracted cargoes from the Persian Gulf, increasing competition between Asian and European buyers." Meanwhile, storage across the European Union is at 36% of capacity, significantly below the five-year average of 50%. In early trading, the benchmark Dutch TTF front-month contract rises 2.4% to 51.36 euros a megawatt-hour. (giulia.petroni@wsj.com)
0355 ET - Gold prices fall as stalled U.S.-Iran peace talks continue to fuel inflation concerns and push global bond yields higher, weighing on demand for non-yielding assets. In early European trading, gold futures in New York slip 0.3% to $4,549.10 a troy ounce and are down nearly 7% on the month. "The lack of progress toward a U.S.-Iran agreement and renewed threats from President Trump against Iran lifted oil prices further, increasing expectations that central banks may keep interest rates elevated or even raise them," says Soojin Kim from MUFG. Traders will now focus on the release of Fed meeting minutes for more cues on the rate outlook. (giulia.petroni@wsj.com)
0323 ET - London's miners decline on inflation and rate-hike concerns. Continued disruption of the Strait of Hormuz fuels inflation concerns that weigh on demand for non-yielding gold, MUFG's Soojin Kim writes. Gold fell nearly 4% last week with prices down around 15% since the U.S.-Iran conflict began, she adds. Silver futures are down 1.5% at $76.41 an ounce while gold falls 0.2% to $4,551.70 a troy ounce. Hochschild Mining is down 2.8% while Fresnillo slides 1.6%. Copper miner Antofagasta slips 1.2%, while diversified miner Anglo American slides 1.6%. (adam.whittaker@wsj.com)
0159 ET - China's overall consumption could remain pressured as household purchasing power weakens on higher inflation, ANZ Research strategists say in a note. They express concern about the economy's retail sales, which rose just 0.2% on year last month. "This is the weakest growth since the post-Covid reopening in early 2023," the strategists write. In particular, April jewelry sales declined a notable 21%, they add. (megan.cheah@wsj.com)
0138 ET - Posco Holdings' lithium business is likely to benefit from favorable pricing conditions in the coming years, Shinhan Securities' Kwangrae Park and Seunghun Han say. The analysts expect global lithium supply to tighten due to Chinese restrictions on lithium production at mines in Jiangxi province and Zimbabwe's suspension of lithium-concentrate exports. They forecast a surge in revenue and improved earnings this year and next for the Korean steelmaker's overseas lithium subsidiaries, Posco Argentina and Posco Pilbara Lithium Solution. They point to a profit turnaround in March for Posco Argentina and a narrower 1Q loss for Posco Pilbara. (kwanwoo.jun@wsj.com)
2321 ET - Golden Agri-Resources' valuation remains inexpensive relative to its peers, says the Singapore team at RHB Research in a note. The Singapore-listed oil-palm company trades at a 7.5X its estimated 2026 price-to-earnings ratio, which is on the lower end of its peers' 7X-12X range, the analysts say. This comes as the company's 1Q results were slightly lower than RHB's and consensus forecasts, they note. While Golden Agri's 2Q earnings could grow on-quarter on higher fresh-fruit bunch output and average-selling price, the team expects a lower downstream margin to marginally offset this gain. They cut their 2026-2028 earnings projections by 2.2%-5.4%. Still, RHB raises its target price to S$0.36 from S$0.35 and maintains a buy rating. Shares fall 1.5% to S$0.32.(megan.cheah@wsj.com)
2257 ET - Palm oil rises in early Asian trade following gains in soybean oil prices Friday on the Chicago Board of Trade, AmInvestment Bank says in a note. Higher crude oil is also supporting palm oil prices, the bank says. Technical analysis suggests crude palm oil futures may rise further, although caution is warranted amid weakening export and higher output, it adds. AmInvestment Bank sees resistance at 4,495 ringgit a ton and support at 4,370 ringgit a ton. The Bursa Malaysia Derivatives contract for August delivery is 56 ringgit higher at 4,493 ringgit a ton.(yingxian.wong@wsj.com)
2242 ET - Iron ore is lower in early Asian trading. Prices are likely to stay range-bound in the near term with both demand and supply being relatively weak, Nanhua Futures analysts say in a note. Given stretched valuations, any momentum for an upside may be limited, they add. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 0.5% at 808.0 yuan a ton. (tracy.qu@wsj.com)
2134 ET - Nickel falls in early Asian trade, as new supply issues have emerged due to the Middle East disruption, ANZ Research commodity strategists say in a report. The Middle East accounts for nearly 50% of the global sulphur trade. Higher sulphur rates will push up the cost curve and affect nickel sulphate production, ANZ says. The three-month nickel contract on the London Metal Exchange is 0.3% lower at $18,435.00 a ton. (amanda.lee@wsj.com)
1950 ET - Gold consolidates in early Asian trade, but may be weighed by expectations of Fed rate increases that typically reduce the allure of the non-interest-bearing precious metal. "The market now anticipates interest-rate hikes by the Fed," Commerzbank Research's Carsten Fritsch says in a research report. These expectations have emerged following the much higher-than-expected U.S. April PPI data, the commodity analyst notes. "A 15-basis-point rise in U.S. key interest rates is priced in by the end of the year, and a full 25-basis-point rate hike by March 2027," Fritsch adds. Spot gold is flat at $4,539.13 per ounce.(ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 18, 2026 09:15 ET (13:15 GMT)
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