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Commodities News 6 January 2026 - 7 January 2026

Oil price forecast: Brent, WTI slide on Trump Venezuela move as 2026 surplus looms

Oil price forecast: Brent, WTI slide on Trump Venezuela move as 2026 surplus looms

New York, Jan 7, 2026, 14:45 (EST) — Regular session Oil prices fell on Wednesday after President Donald Trump said Venezuela would turn over 30 million to 50 million barrels of sanctioned crude to the United States, feeding fears of more supply in an already well-stocked market. Brent crude futures were down 40 cents, or 0.7%, at $60.31 a barrel by 11:05 a.m. ET, after touching $59.88, and U.S. West Texas Intermediate (WTI) was down 74 cents, or 1.3%, at $56.39 after hitting $55.76; both benchmarks slid more than $1 in the previous session. SEB analyst Ole Hvalbye called the
7 January 2026
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Gold price forecast: Jobs report looms as bullion slips on profit-taking

Gold price forecast: Jobs report looms as bullion slips on profit-taking

NEW YORK, Jan 7, 2026, 14:33 EST — Regular session Gold fell more than 1% on Wednesday as investors locked in profits after a two-day surge, with traders waiting on Friday’s U.S. jobs report to test expectations for Federal Reserve rate cuts. Spot gold was down 0.9% at $4,445.32 an ounce by 1:36 p.m. ET after sliding as low as $4,422.89, and U.S. gold futures settled 0.7% lower at $4,462.50. Spot silver slid 4.1% to $77.93. Reuters The metal has been whipsawed by Washington’s intervention in Venezuela and the fallout from President Nicolas Maduro’s capture, which revived demand for havens. “The
7 January 2026
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Natural gas price stock UNG jumps as Henry Hub futures rebound; storage report looms

Natural gas price stock UNG jumps as Henry Hub futures rebound; storage report looms

New York, Jan 7, 2026, 13:57 EST — Regular session Shares of the United States Natural Gas Fund LP (UNG) rose 4.2% on Wednesday, tracking a rebound in U.S. natural gas futures. Front-month Henry Hub futures were up about 3.4% at $3.464 per million British thermal units (mmBtu). CME Group The move matters now because the market has been lurching around on short-term weather model shifts. Futures for February delivery dropped as much as 5.9% to $3.404 on Monday on forecasts for warmer temperatures next week, Bloomberg reported. Supply has not gone away. Constellation said in a weekly market note
7 January 2026
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Silver price stock SLV slides as spot silver drops; U.S. payrolls report looms

Silver price stock SLV slides as spot silver drops; U.S. payrolls report looms

New York, Jan 7, 2026, 13:51 EST — Regular session Shares of iShares Silver Trust (SLV) fell about 4% on Wednesday, giving back part of this week’s surge in the silver price. The silver-backed trust was down 4.1% at $70.72 in early afternoon trade, after ranging from $69.26 to $72.20. Spot silver, the cash price for immediate delivery, was down 5% at $77.26 an ounce by late morning New York time as investors locked in gains and the U.S. dollar held firm; gold, platinum and palladium also fell. “We’re viewing today’s pullback as general profit taking after that recent surge,”
7 January 2026
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Vale (VALE) stock wobbles after Tuesday surge as iron ore firms; Feb. 12 results loom

Vale (VALE) stock wobbles after Tuesday surge as iron ore firms; Feb. 12 results loom

New York, Jan 7, 2026, 09:55 EST — Regular session Vale’s U.S.-listed shares were down about 0.8% at $14.05 in early trade on Wednesday, underperforming the broader market’s early grind but holding up better than some mining peers. Rio Tinto fell about 1.5% and BHP Group slid roughly 1.8%. The tape matters because Vale is still, for many traders, a straight read-through on iron ore and China demand. The market has been hunting for anything concrete after a sharp run in the stock, with prices and shipment data doing most of the talking. Iron ore futures in China hit their
7 January 2026
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Glencore stock steadies as copper hits record highs — what to watch next for GLEN.L

Glencore stock steadies as copper hits record highs — what to watch next for GLEN.L

London, Jan 7, 2026, 08:38 GMT — Regular session Glencore shares edged lower in early London trade on Wednesday, after two sessions of gains that tracked copper’s record run. The stock was down 0.15 pence, or about 0.04%, at 427.80 pence by 0820 GMT. Glencore Copper has been the immediate driver for miners this week after prices surged above $13,000 a metric ton, reviving talk of tight supply and the need for higher prices to unlock new projects. “Copper prices need to rise further,” SP Angel analyst John Meyer said. Concord Resources research director Duncan Hobbs said metals are rallying
7 January 2026
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Freeport-McMoRan stock climbs on record copper prices — what FCX investors watch next

Freeport-McMoRan stock climbs on record copper prices — what FCX investors watch next

New York, Jan 6, 2026, 15:21 EST — Regular session Freeport-McMoRan (FCX.N) shares were up 2.9% at $55.97 in afternoon trading on Tuesday, tracking a renewed surge in copper prices to record highs. Benchmark copper on the London Metal Exchange hit a fresh intraday record, keeping miners bid. Bloomberg.com The copper rally is putting the spotlight back on miners as investors position for tighter supply and strong end-demand in power and construction, where the metal is a key input. For equity traders, Freeport often serves as a direct read-through on the copper tape because moves in the commodity can quickly
6 January 2026
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Natural gas price ETF UNG slides as Henry Hub futures extend losses on warm-weather outlook

Natural gas price ETF UNG slides as Henry Hub futures extend losses on warm-weather outlook

New York, Jan 6, 2026, 10:30 EST — Regular session Shares of the United States Natural Gas Fund (UNG) fell 4.5% to $11.11 on Tuesday as U.S. natural gas futures slid in morning trade. The benchmark Henry Hub contract for February was down about 2.7% at $3.429 per million British thermal units (mmBtu), a standard gas-trading energy unit. CME Group The selloff matters because winter heating demand can swing U.S. gas prices quickly, and forecasters are now calling for an unusually warm stretch across large parts of the country. Record highs were forecast in swaths of the central and eastern
6 January 2026
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Freeport-McMoRan stock jumps as copper hits a new record — what investors watch next

Freeport-McMoRan stock jumps as copper hits a new record — what investors watch next

NEW YORK, Jan 6, 2026, 09:51 EST — Regular session Shares of Freeport-McMoRan Inc (FCX) rose 3.3% to $56.23 by 9:50 a.m. EST on Tuesday, after touching $57.12, a new 52-week high. The stock has traded between $55.71 and $57.12 so far, while rival Southern Copper was up about 3%. Copper’s latest surge has been the key driver. Benchmark three-month copper on the London Metal Exchange (LME), a global pricing venue for industrial metals, hit a peak of $13,387.50 a metric ton on Tuesday, Reuters reported, citing a Morgan Stanley note. Supply shocks and policy noise have amplified the rally.
6 January 2026
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Natural gas price stock UNG drops again in premarket as warm-weather forecast weighs on futures

Natural gas price stock UNG drops again in premarket as warm-weather forecast weighs on futures

New York, Jan 6, 2026, 06:31 EST — Premarket The United States Natural Gas Fund slipped again in premarket trading on Tuesday as U.S. natural gas futures fell amid forecasts for warmer-than-normal weather. UNG was down 2.2% at $11.37 before the open. StockAnalysis+1 U.S. natural gas futures were down 2.7% at $3.427 per million British thermal units (mmBtu), a common benchmark unit for gas pricing. The pullback keeps pressure on natural-gas-linked funds that trade like stocks. Investing.com The move matters now because winter weather is the main swing factor for U.S. heating demand, and traders have been repricing the balance
6 January 2026
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Before TSX opens: Venezuela shock keeps gold near record, puts Canada energy shares in focus

Before TSX opens: Venezuela shock keeps gold near record, puts Canada energy shares in focus

Toronto, January 6, 2026, 04:55 EST — Premarket Canada’s TSX heads into Tuesday’s open still tethered to the geopolitical shock out of Venezuela, after the U.S. military captured President Nicolás Maduro over the weekend and Washington signalled a push to open up Venezuela’s oil industry. Reuters+1 The timing matters because the Canadian benchmark has just pushed to a fresh record, leaving less room for a stumble if commodity prices reverse or energy names stay under pressure. The S&P/TSX Composite ended Monday up 336.58 points, or 1.1%, at 32,219.95. Reuters The index’s sector mix is the story: materials jumped 3.3% as
6 January 2026
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Glencore stock rises with copper at record highs as GLEN.L nears 52-week peak

Glencore stock rises with copper at record highs as GLEN.L nears 52-week peak

London, Jan 6, 2026, 08:31 GMT — Regular session Glencore plc shares rose 1.3% to 424.9 pence by around 0830 GMT, as a fresh record in copper prices lifted mining stocks early in London trading. Investing.com+1 The move matters now because Glencore is a major producer and trader of copper, a metal used in power cables and construction, so shifts in the copper price can quickly change sentiment toward the stock. Copper jumped to records above $13,000 a metric ton on Monday, Reuters reported. Reuters A tighter copper market has become a headline driver for Europe’s basic resources sector, which
6 January 2026
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Stock Market Today

Meta stock faces an AI split: ad gains vs a $135 billion bill

Meta stock faces an AI split: ad gains vs a $135 billion bill

7 February 2026
Meta shares dropped 1.3% to $661.46 on Friday after the company projected 2026 capital spending of up to $135 billion, raising investor concerns over cash flow. Meta reported Q4 revenue of $59.89 billion, up 24% year-over-year, with ad impressions rising 18%. Analysts remain divided on whether AI-driven ad gains can offset the steep spending ramp.
IAG share price jumps toward a 52-week peak — what to watch before London reopens

IAG share price jumps toward a 52-week peak — what to watch before London reopens

7 February 2026
IAG shares rose 4.33% to 438.50 pence Friday, near their 52-week high, ahead of full-year results due later this month. The company reported 162,073,135 treasury shares and total voting rights of 4,565,128,012. Brent crude fell 2.2% Thursday to $67.93 a barrel. South Europe Ground Services logged 712,340 operations in 2025 and seeks approval to operate in Portugal.
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