ALIUSDAluminum Futures

Brent falls below 100 dollars following API inventory build and continued natural gas jumps

Oil and silver prices retreat under pressure from supply abundance and Fed hawkishness, against strong gains for gas and copper Crude oil prices retreated as Brent fell below 100 dollars, affected by API crude oil inventory data which showed an actual increase of 1.786 against expectations of a decline of -0.5. Improved global supply prospects and increased Saudi supply contributed to calming the markets, despite oil shipping costs jumping to 1.2 million dollars per day. These movements reflect easing concerns regarding global supplies and hopes for diplomatic de-escalation between Washington and Tehran, which pushed the United States Brent Oil Fund (BNO) to decline by -1.63%. Natural gas (UNG) led the gains by 5.85%, supported by EQT's plans to increase production in 2026 while reducing capital expenditure. Copper (CPER) also recorded a rise of 1.87%, reflecting strong demand in industrial markets. This momentum comes at a time when the lithium market in China is facing price pressures, while markets await the impact of Strait of Hormuz disruptions on jet fuel prices, which have seen a global rise, while Talos Energy completed its acquisition in the Gulf of Mexico for 420 million dollars. Silver (XAGUSD) prices fell by 1.86% to retreat towards the 66.50 dollars levels, driven by the Fed's hawkish stance which puts pressure on non-yielding metals. Platinum futures (PLUSD) also saw a decline of 2.14%, reinforcing the negative short-term outlook for precious metals at the start of European trading. This retreat comes despite research indicating the exit of seven million ounces from COMEX, which raises questions about the real drivers of silver prices in light of current monetary pressures.