Commodities

Oil prices surged to their highest level in over six years Tuesday after production talks broke down between OPEC and its allies.

Gold was hovering around an over two-month low on Wednesday as investors awaited U.S. jobs data for further clarity on the Federal Reserve's policy stance, with the precious metal heading for its worst monthly drop since November 2016.

Many commodities from copper to lumber have dropped from their peak pandemic prices, easing the most acute worries about an inflationary spiral. But investors remain bullish on many of them, arguing they still look cheap.

Brent crude oil could top $100 a barrel next year as the world emerges from the COVID-19 pandemic, according to Bank of America.

Copper is getting crushed in the worst week since March of 2020.

Federal Reserve Chairman Jerome Powell on Wednesday used the recent plunge in lumber prices as an example of why the central bank thinks the recent surge in inflation will be transitory.

Oil prices climbed to their highest level in more than two years Monday amid more evidence of increasing demand as the global economy reopens from COVID-19 lockdowns.

Oil has clocked its third consecutive week of gains and analysts say there is more room to run.

West Texas Intermediate crude oil hit $70 a barrel for the first time in two and a half years as traders balanced the reopening of the global economy and OPEC’s recent decision on production.

EXCLUSIVE: New York Stock Exchange Senior Market Strategist Michael Reinking said the May jobs report gave Wall Street a "sigh of relief" Friday, as the market rallied just below all-time highs following the U.S. economy reporting 559,000 jobs in May—missing expectations—and a decline in the unemployment rate.

Gold prices rose on Monday and were headed for their best monthly jump since July 2020, boosted by a weaker U.S. dollar and lower bond yields, while growing inflationary pressure also lifted demand for the safe-haven metal as a hedge.

The White House on Friday moved to quell concerns of gasoline prices on Memorial Day Weekend surging above $3 per gallon for the first time in seven years.

The Department of Homeland Security on Thursday mandated owners and operators of critical pipelines to comply with new security measures.

U.S. orders for big-ticket manufactured goods dropped unexpectedly in April for the first time in 11 months as a shortage of computer chips disrupted auto production.

Former President Donald Trump says the Biden administration is to blame for surging lumber prices that are weighing down the housing market.

Investors are positioning for the risk of higher inflation as the reopening of the U.S. economy gathers steam, but may not be prepared if the worst of the price increases has already run its course.

The communications system used by shippers on the Colonial Pipeline experienced intermittent disruptions.

Amid gas shortages roiling the nation, pipeline proponents got some validation this week.

North Carolina residents are in for what some predict could be the toughest day yet to find gas following the Colonial Pipeline cyberattack.

Colonial Pipeline Co. may have paid between $4 million and $5 million to hackers in order to get its pipeline back up and running.