Commodities Archives - Nairametrics https://nairametrics.com/category/market-news/commodities/ Destination for Business news and analysis from Africa's largest economy Wed, 09 Jul 2025 11:07:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://nairametrics.com/wp-content/uploads/2021/08/cropped-cropped-favicon-1.png?resize=75,75 Commodities Archives - Nairametrics https://nairametrics.com/category/market-news/commodities/ 32 32 201037849 Nigerian Crude surges to $72 amid Houthi attack fallout https://nairametrics.com/2025/07/09/nigerian-crude-surges-to-72-amid-houthi-attack-fallout/ https://nairametrics.com/2025/07/09/nigerian-crude-surges-to-72-amid-houthi-attack-fallout/#respond Wed, 09 Jul 2025 11:07:21 +0000 https://nairametrics.com/?p=518781 Nigerian crude prices surged above $70 per barrel, marginally higher than the major oil contracts traded on the global oil market.

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]]> https://nairametrics.com/2025/07/09/nigerian-crude-surges-to-72-amid-houthi-attack-fallout/feed/ 0 518781 Nigerian Oil falls below $70 a barrel amid faded supply disruption   https://nairametrics.com/2025/07/01/nigerian-oil-falls-below-70-a-barrel-amid-faded-supply-disruption/ https://nairametrics.com/2025/07/01/nigerian-oil-falls-below-70-a-barrel-amid-faded-supply-disruption/#respond Tue, 01 Jul 2025 08:45:19 +0000 https://nairametrics.com/?p=518239 Nigerian crude prices dipped to a three-week low on Tuesday, falling back to rates seen before the recent Israel-Iran fighting as fading supply fears and talk of an OPEC+ output increase weighed on the market.   

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]]> https://nairametrics.com/2025/07/01/nigerian-oil-falls-below-70-a-barrel-amid-faded-supply-disruption/feed/ 0 518239 Crude Oil price crashes below $67 as Iran avoids blocking Strait of Hormuz https://nairametrics.com/2025/06/30/crude-oil-price-crashes-below-67-as-iran-avoids-blocking-strait-of-hormuz/ https://nairametrics.com/2025/06/30/crude-oil-price-crashes-below-67-as-iran-avoids-blocking-strait-of-hormuz/#respond Mon, 30 Jun 2025 13:02:15 +0000 https://nairametrics.com/?p=518160 Global crude oil prices, as tracked by Brent futures, have fallen sharply below $67 per barrel, down from a monthly high of $77.08 on June 19, as concerns over a major supply disruption eased. 

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]]> https://nairametrics.com/2025/06/30/crude-oil-price-crashes-below-67-as-iran-avoids-blocking-strait-of-hormuz/feed/ 0 518160 Why has platinum, a metal for the car industry, jumped over 45% in the commodity market?  https://nairametrics.com/2025/06/27/why-has-platinum-a-metal-for-the-car-industry-jumped-over-45-in-the-commodity-market/ https://nairametrics.com/2025/06/27/why-has-platinum-a-metal-for-the-car-industry-jumped-over-45-in-the-commodity-market/#respond Fri, 27 Jun 2025 14:47:59 +0000 https://nairametrics.com/?p=517988 Platinum, an important metal for the automotive industry, surged more than 27% month-to-date in June, topping the commodity charts with a year-to-date gain of over 45%. 

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]]> https://nairametrics.com/2025/06/27/why-has-platinum-a-metal-for-the-car-industry-jumped-over-45-in-the-commodity-market/feed/ 0 517988 Cocoa settles below $9K per ton as Nigeria plans to boost Chocolate Production https://nairametrics.com/2025/06/25/cocoa-settles-below-9k-per-ton-as-nigeria-plans-to-boost-chocolate-production/ https://nairametrics.com/2025/06/25/cocoa-settles-below-9k-per-ton-as-nigeria-plans-to-boost-chocolate-production/#respond Wed, 25 Jun 2025 08:48:10 +0000 https://nairametrics.com/?p=517840 Cocoa prices settled at $8.796 per ton during the mid-week trading session in the US futures market, as Nigeria increasingly bets on the cash crop upside for the long haul.

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]]> https://nairametrics.com/2025/06/25/cocoa-settles-below-9k-per-ton-as-nigeria-plans-to-boost-chocolate-production/feed/ 0 517840 Bonny Light nears $70 a barrel, strengthens Naira outlook   https://nairametrics.com/2025/06/12/bonny-light-nears-70-a-barrel-strengthens-naira-outlook/ https://nairametrics.com/2025/06/12/bonny-light-nears-70-a-barrel-strengthens-naira-outlook/#respond Thu, 12 Jun 2025 07:04:46 +0000 https://nairametrics.com/?p=517076 The Nigerian naira fluctuated well below N1600/$ on Thursday in the unofficial market, amid higher oil prices and investor concerns about tightening supplies.

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]]> https://nairametrics.com/2025/06/12/bonny-light-nears-70-a-barrel-strengthens-naira-outlook/feed/ 0 517076 Falling sugar prices to boost profits for Dangote Sugar, BUA, and Golden Penny https://nairametrics.com/2025/06/11/falling-sugar-prices-to-boost-profits-for-dangote-sugar-bua-and-golden-penny/ https://nairametrics.com/2025/06/11/falling-sugar-prices-to-boost-profits-for-dangote-sugar-bua-and-golden-penny/#respond Wed, 11 Jun 2025 10:33:56 +0000 https://nairametrics.com/?p=517032 Lower sugar prices are enabling some businesses in Nigeria to enhance their profit margins.

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]]> https://nairametrics.com/2025/06/11/falling-sugar-prices-to-boost-profits-for-dangote-sugar-bua-and-golden-penny/feed/ 0 517032 BonnyLight sells marginally higher than Brent, new Nigerian blend hits market https://nairametrics.com/2025/06/09/bonnylight-sells-marginally-higher-than-brent-new-nigerian-blend-hits-market/ https://nairametrics.com/2025/06/09/bonnylight-sells-marginally-higher-than-brent-new-nigerian-blend-hits-market/#respond Mon, 09 Jun 2025 08:00:00 +0000 https://nairametrics.com/?p=516917 Nigerian crude traded slightly higher than Brent crude amid ongoing dynamics in the global oil market.

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]]> https://nairametrics.com/2025/06/09/bonnylight-sells-marginally-higher-than-brent-new-nigerian-blend-hits-market/feed/ 0 516917 Gold rises to $3,353 amid global trade and escalating geopolitical tension https://nairametrics.com/2025/06/02/gold-rises-to-3353-amid-global-trade-and-escalating-geopolitical-tension/ https://nairametrics.com/2025/06/02/gold-rises-to-3353-amid-global-trade-and-escalating-geopolitical-tension/#respond Mon, 02 Jun 2025 12:02:58 +0000 https://nairametrics.com/?p=516528 Gold prices climbed sharply on Monday morning, rising by over 2% as escalating geopolitical tensions and renewed tariff threats by U.S. President Donald Trump fueled demand for the precious metal as a safe-haven asset. 

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]]> https://nairametrics.com/2025/06/02/gold-rises-to-3353-amid-global-trade-and-escalating-geopolitical-tension/feed/ 0 516528 Gold slips amid risk rally as Nigeria mulls Naira-backed reserve strategy https://nairametrics.com/2025/05/29/gold-slips-amid-risk-rally-as-nigeria-mulls-naira-backed-reserve-strategy/ https://nairametrics.com/2025/05/29/gold-slips-amid-risk-rally-as-nigeria-mulls-naira-backed-reserve-strategy/#respond Thu, 29 May 2025 08:45:44 +0000 https://nairametrics.com/?p=516257 Gold had already been losing value throughout the week following Trump’s decision to increase tariffs on Europe, which fueled greater risk appetite and reduced demand for safe-haven assets.

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]]> https://nairametrics.com/2025/05/29/gold-slips-amid-risk-rally-as-nigeria-mulls-naira-backed-reserve-strategy/feed/ 0 516257 Cocoa prices hold at $9,764 amid tariff pressures https://nairametrics.com/2025/05/26/cocoa-prices-hold-at-9764-amid-tariff-pressures/ https://nairametrics.com/2025/05/26/cocoa-prices-hold-at-9764-amid-tariff-pressures/#respond Mon, 26 May 2025 06:33:14 +0000 https://nairametrics.com/?p=516005 Cocoa futures settled at $9,764 per ton as the cash crop struggled to break above the $10,000 resistance line.  

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]]> https://nairametrics.com/2025/05/26/cocoa-prices-hold-at-9764-amid-tariff-pressures/feed/ 0 516005 Rising demand for gold, minerals fuelling corruption, instability in Africa, others – UN  https://nairametrics.com/2025/05/21/rising-demand-for-gold-minerals-fuelling-corruption-instability-in-africa-others-un/ https://nairametrics.com/2025/05/21/rising-demand-for-gold-minerals-fuelling-corruption-instability-in-africa-others-un/#respond Wed, 21 May 2025 07:12:26 +0000 https://nairametrics.com/?p=515740 The growing global demand for gold and other critical minerals is fueling crime, corruption, and instability across the mineral supply chain, particularly in Africa. 

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]]> https://nairametrics.com/2025/05/21/rising-demand-for-gold-minerals-fuelling-corruption-instability-in-africa-others-un/feed/ 0 515740 Nigerian Palm Oil about to get expensive, Indonesia increases export levy https://nairametrics.com/2025/05/18/nigerian-palm-oil-about-to-get-expensive-indonesia-increases-export-levy/ https://nairametrics.com/2025/05/18/nigerian-palm-oil-about-to-get-expensive-indonesia-increases-export-levy/#respond Sun, 18 May 2025 08:09:51 +0000 https://nairametrics.com/?p=515556 Indonesia, the world’s largest producer of palm oil, increased the export tax on crude palm oil (CPO) from 7.5% to 10% on May 17.

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]]> https://nairametrics.com/2025/05/18/nigerian-palm-oil-about-to-get-expensive-indonesia-increases-export-levy/feed/ 0 515556 Why Gold ETFs could be a smarter choice for Nigerians in 2025, than XAU/USD – Dublin-Green  https://nairametrics.com/2025/05/16/why-gold-etfs-could-be-a-smarter-choice-for-nigerians-in-2025-than-xau-usd-dublin-green/ https://nairametrics.com/2025/05/16/why-gold-etfs-could-be-a-smarter-choice-for-nigerians-in-2025-than-xau-usd-dublin-green/#respond Fri, 16 May 2025 05:25:21 +0000 https://nairametrics.com/?p=515437 Arnold Dublin-Green, Chief Investment Officer at Cordros Securities, believes Gold ETFs are a smarter and safer choice for Nigerian gold investors, especially in light of the country’s ongoing foreign exchange instability. Speaking on Nairametrics’ YouTube show Everyday Money Matters, in an episode titled “Why Gold Might Be the Smartest Investment Nigerians Can Make in 2025,” […]

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]]> https://nairametrics.com/2025/05/16/why-gold-etfs-could-be-a-smarter-choice-for-nigerians-in-2025-than-xau-usd-dublin-green/feed/ 0 515437 Gold drops $120 Per Ounce as investors, U.S.–China deal calm market https://nairametrics.com/2025/05/12/gold-drops-120-per-ounce-as-investors-u-s-china-deal-calm-market/ https://nairametrics.com/2025/05/12/gold-drops-120-per-ounce-as-investors-u-s-china-deal-calm-market/#respond Mon, 12 May 2025 11:53:13 +0000 https://nairametrics.com/?p=515119 Gold extended its steep intraday losses on Monday, plummeting to a fresh one-week low below the $3,250 mark following news of progress in U.S.–China trade talks.

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]]> https://nairametrics.com/2025/05/12/gold-drops-120-per-ounce-as-investors-u-s-china-deal-calm-market/feed/ 0 515119 Gold dips below $3,300 on tariff reduction talks  https://nairametrics.com/2025/05/12/gold-dips-below-3300-on-tariff-reduction-talks/ https://nairametrics.com/2025/05/12/gold-dips-below-3300-on-tariff-reduction-talks/#respond Mon, 12 May 2025 11:04:35 +0000 https://nairametrics.com/?p=515114 Gold prices have recorded a sharp decline of more than 5%, shedding over 180 basis points amid renewed hope over tariff reductions between the United States and China. 

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]]> https://nairametrics.com/2025/05/12/gold-dips-below-3300-on-tariff-reduction-talks/feed/ 0 515114 Nigeria bets on Cocoa as futures settle at $9,187 per ton https://nairametrics.com/2025/05/11/nigeria-bets-on-cocoa-as-futures-settle-at-9187-per-ton/ https://nairametrics.com/2025/05/11/nigeria-bets-on-cocoa-as-futures-settle-at-9187-per-ton/#respond Sun, 11 May 2025 09:28:14 +0000 https://nairametrics.com/?p=515077 Cocoa settled at $9,187 per ton at the New York Commodity Exchange as Africa's most populous country, Nigeria, seeks to reduce its over-reliance on Crude oil earnings.

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]]> https://nairametrics.com/2025/05/11/nigeria-bets-on-cocoa-as-futures-settle-at-9187-per-ton/feed/ 0 515077 De Beers exits Lab-Grown Diamond market as prices crash 90% from China supply  https://nairametrics.com/2025/05/09/de-beers-exits-lab-grown-diamond-market-as-prices-crash-90-from-china-supply/ https://nairametrics.com/2025/05/09/de-beers-exits-lab-grown-diamond-market-as-prices-crash-90-from-china-supply/#respond Fri, 09 May 2025 12:20:48 +0000 https://nairametrics.com/?p=515002 De Beers, the diamond giant long associated with natural gemstones, is officially exiting the lab-grown diamond market, as prices have crashed by 90%, driven largely by a surge in low-cost supply from China. 

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]]> https://nairametrics.com/2025/05/09/de-beers-exits-lab-grown-diamond-market-as-prices-crash-90-from-china-supply/feed/ 0 515002 Investors seek refuge in Bitcoin, Gold amid high geopolitical uncertainty https://nairametrics.com/2025/05/07/investors-seek-refuge-in-bitcoin-gold-amid-high-geopolitical-uncertainty/ https://nairametrics.com/2025/05/07/investors-seek-refuge-in-bitcoin-gold-amid-high-geopolitical-uncertainty/#respond Wed, 07 May 2025 09:07:39 +0000 https://nairametrics.com/?p=514819 Gold maintained its shine while Bitcoin hovered around $100,000 as investors braced for the Federal Reserve's policy announcement amid heightened geopolitical risks.

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]]> https://nairametrics.com/2025/05/07/investors-seek-refuge-in-bitcoin-gold-amid-high-geopolitical-uncertainty/feed/ 0 514819 CBN’s gold reserves gain over N1 trillion in 2024 as prices hit record levels https://nairametrics.com/2025/05/02/cbns-gold-reserves-gain-over-n1-trillion-in-2024-as-prices-hit-record-levels/ https://nairametrics.com/2025/05/02/cbns-gold-reserves-gain-over-n1-trillion-in-2024-as-prices-hit-record-levels/#respond Fri, 02 May 2025 19:36:12 +0000 https://nairametrics.com/?p=514536 The Central Bank of Nigeria (CBN) has reported that the value of its gold reserves rose to N2.77 trillion as at 31 December 2024, up from N1.28 trillion recorded at the end of 2023.

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]]> https://nairametrics.com/2025/05/02/cbns-gold-reserves-gain-over-n1-trillion-in-2024-as-prices-hit-record-levels/feed/ 0 514536