Crude oil futures are trading at relatively elevated levels this morning, with WTI around $82–84 per barrel and Brent in the $85–89 range. Geopolitical tensions in the Middle East, including supply disruption concerns linked to Iran, are providing support.

Oil and Energy

Prices have risen amid supply worries, with some volatility observed. Natural gas and refined products are showing mixed moves.

Gold and Precious Metals

Gold remains near record or multi-month highs, backed by geopolitical uncertainty. Prices are hovering around $4,070–4,165 per ounce. Central bank buying reportedly slowed in early 2026.

Agricultural Commodities

Agricultural markets are mixed. The FAO Food Price Index edged down 0.3% in June. Soybeans trade near $1,179–1,188 per bushel, corn around $444–468, and wheat near $656–662.

Geopolitical risks in the Middle East remain the key driver for energy prices and safe-haven demand for gold. Markets stay volatile ahead of the US trading session.

Why It Matters

Commodity swings affect inflation, energy costs, and global supply chains.

Bottom Line

Geopolitical tensions continue to underpin oil and gold, while agricultural commodities remain relatively stable. Data points to continued vigilance for upcoming developments.