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Commodity Prices News 20 January 2026 - 21 January 2026

Oil prices slip again as U.S. stockpile build looms, Kazakhstan outage fades

Oil prices slip again as U.S. stockpile build looms, Kazakhstan outage fades

London, January 21, 2026, 12:18 GMT — Regular session Brent crude futures eased 12 cents to $64.80 a barrel by 11:25 a.m. GMT on Wednesday. U.S. West Texas Intermediate crude slipped 11 cents, settling at $60.25. Traders cited expectations of rising U.S. inventories and weaker demand outlooks. IG market analyst Tony Sycamore described the Kazakhstan outage as “temporary” and highlighted ongoing “downward pressure” from a likely U.S. crude build. UBS analyst Giovanni Staunovo flagged concerns over tariff-driven growth slowdowns, while Eurasia Group’s Gregory Brew noted that renewed U.S.-Iran tensions could still support prices. (Reuters) This matters because crude has been
21 January 2026
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Oil prices slip as U.S. inventory build looms and Greenland tariff talk spooks markets

Oil prices slip as U.S. inventory build looms and Greenland tariff talk spooks markets

London, Jan 21, 2026, 11:59 GMT — Regular session Oil prices slipped on Wednesday, retreating from Tuesday’s rally as traders weighed forecasts of a U.S. crude stockpile increase alongside renewed trade tensions. By 1125 GMT, Brent futures had dropped 12 cents to $64.80 a barrel, and U.S. West Texas Intermediate (WTI) eased 11 cents to $60.25. (Reuters) The market faces a tug-of-war between short-term supply disruptions and growing worries that tariffs might slow growth and curb fuel demand. Prices remain locked in a narrow range, making upcoming U.S. stockpile reports a likely catalyst for movement—more so than news headlines. (Reuters)
21 January 2026
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Glencore stock rises as Rio output beat keeps merger spotlight on miners

Glencore stock rises as Rio output beat keeps merger spotlight on miners

London, Jan 21, 2026, 08:41 GMT — Regular session Glencore (GLEN.L) shares jumped 1.7% to 490.25 pence early Wednesday, rebounding after Tuesday’s finish at 482.00 pence. (glencore.com) This shift drew attention since the stock now serves as a barometer for merger risk following Rio Tinto’s recent operating update, despite broader European equities falling amid fresh trade tension news. (Reuters) Rio reported iron ore and copper output in the fourth quarter that exceeded analysts’ expectations. New CEO Simon Trott highlighted the “exceptional production performance” amid ongoing internal restructuring. The company is also in discussions with Glencore over a possible merger. (investments.halifax.co.uk)
21 January 2026
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BHP share price rebounds after China iron ore talks, potash cost jump rattles investors

BHP share price rebounds after China iron ore talks, potash cost jump rattles investors

Sydney, Jan 21, 2026, 16:51 AEDT — Market closed. BHP Group (BHP.AX) shares ended Wednesday 1.47% higher at A$48.48, bouncing back after losing 1.99% on Tuesday. The stock fluctuated between A$47.25 and A$48.50 throughout the session. (Investing.com) The rebound came after BHP’s latest operating update sparked a sharp selloff. The company warned of price concessions on certain iron ore sales amid talks over a 2026 supply deal with China Mineral Resources Group (CMRG), the state-backed buyer. RBC analyst Kaan Peker noted these restrictions could “likely tighten spot market availability and support the headline index price,” despite BHP having to offer
21 January 2026
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Natural gas price posts biggest jump since 2022 as Arctic cold hits; UNG and EQT climb

Natural gas price posts biggest jump since 2022 as Arctic cold hits; UNG and EQT climb

New York, Jan 20, 2026, 17:19 (EST) — After-hours U.S. natural gas prices surged Tuesday, with the front-month NYMEX Henry Hub contract closing up 25.9% at $3.907 per million British thermal units (mmBtu), the standard measure for gas pricing. (The Wall Street Journal) This move carries weight now because the market had been sliding amid a mild start to winter and steady supply, leaving traders braced for further declines. “It could be the toughest test for the heating oil and natural-gas markets in a decade,” Tom Kloza, global head of energy analysis at OPIS, told MarketWatch, citing an Arctic air
20 January 2026
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Natural gas price surge jolts UNG and producers as U.S. cold snaps back into view

Natural gas price surge jolts UNG and producers as U.S. cold snaps back into view

New York, Jan 20, 2026, 13:43 EST — Regular session U.S. natural gas futures surged Tuesday, ending a weeks-long decline as traders reacted to a chillier late-January forecast and covered shorts. The NYMEX February contract climbed 25.2%, settling at $3.885 per million British thermal units (mmBtu) on a delayed quote. (MarketWatch) This shift is significant, given the market was previously tilted the opposite direction: mild conditions and ample supply pushed prices down to a 13-week low right before the Martin Luther King Jr. holiday weekend. But as weather forecasts flipped, traders scrambled, turning positioning into a catalyst. (BOE Report) Earlier,
20 January 2026
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Natural gas price spikes on Arctic forecast shift; UNG jumps as EQT, Range rally

Natural gas price spikes on Arctic forecast shift; UNG jumps as EQT, Range rally

New York, January 20, 2026, 10:41 EST — Regular session. U.S. natural gas prices surged in early Tuesday trading after weather forecasts swung colder for the last week of January, lifting gas-linked funds and U.S. producer stocks. The front-month Henry Hub contract was up about 20% at around $3.74 per million British thermal units (mmBtu). (CME Group) The move matters because it hits the market where it is most sensitive right now: winter demand expectations. The National Weather Service forecast temperatures 15 to 25 degrees Fahrenheit below average across parts of the Northeast and Midwest through the end of January,
20 January 2026
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Denison Mines stock steadies near $3.70 as uranium prices stay in focus

Denison Mines stock steadies near $3.70 as uranium prices stay in focus

Toronto, Jan 20, 2026, 09:50 ET — Regular session underway. Denison Mines Corp shares edged up 1 cent, roughly 0.3%, to $3.70 in early Tuesday trading on the NYSE American, after reaching $3.73 earlier. The stock fluctuated between $3.60 and $3.73, with about 1.7 million shares changing hands. The broader uranium market remains volatile, with prices holding steady. UxC uranium U3O8 futures — tied to uranium oxide, the most widely traded form — hovered around $85 a pound for contracts expiring in 2026. (CME Group) That price point is key since physical funds remain central to the market and can
20 January 2026
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Heating oil price leaps as Arctic blast grips U.S. Northeast; traders eye inventory data

Heating oil price leaps as Arctic blast grips U.S. Northeast; traders eye inventory data

New York, Jan 20, 2026, 07:33 EST — Premarket U.S. heating oil futures jumped early Tuesday, driven by forecasts of a fresh Arctic blast boosting winter fuel demand. The front-month NY Harbor ULSD contract for February climbed 7.78 cents, or 3.48%, settling at $2.3154 a gallon. (Barchart.com) That’s significant since the chill isn’t limited to a single area. According to the U.S. Weather Prediction Center, highs on Tuesday will hover in the teens and 20s from the Midwest through the Northeast and Mid-Atlantic—about 15–25 degrees Fahrenheit below normal. This drop keeps distillate demand squarely in the spotlight. (wpc.ncep.noaa.gov) Heating oil
20 January 2026
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Brent crude price steadies near $64 as Greenland tariff threat collides with China demand hopes

Brent crude price steadies near $64 as Greenland tariff threat collides with China demand hopes

London, Jan 20, 2026, 12:19 GMT — Regular session. Brent crude futures held a small gain on Tuesday, trading near $64 a barrel as investors weighed U.S. tariff threats against Europe over Greenland while a softer dollar and steadier growth expectations limited the downside. Brent March futures gained 23 cents, or 0.36%, to $64.17 a barrel by 1126 GMT, while U.S. West Texas Intermediate rose 13 cents, or 0.2%, to $59.57. (Reuters) The oil market has been swinging between “risk-off” and “risk-on” trades since the weekend, with traders trying to map tariff headlines onto fuel demand. “Any trade war expansion
20 January 2026
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Natural gas price jumps more than 20% as Arctic cold heads for U.S. — what to watch next

Natural gas price jumps more than 20% as Arctic cold heads for U.S. — what to watch next

NEW YORK, Jan 20, 2026, 07:01 EST — Premarket U.S. natural gas futures surged more than 20% early Tuesday as forecasts pointed to a colder stretch in late January, pushing up heating demand expectations. The front-month Henry Hub contract climbed 68.9 cents, or 22.2%, settling at $3.792 per million British thermal units (mmBtu), the key pricing unit for U.S. gas. (CME Group) This shift is significant since winter weather rapidly boosts consumption, while the market currently holds a weather-sensitive surplus. Just a handful of model updates can flip storage withdrawal forecasts and push funds to unwind short positions. The U.S.
20 January 2026
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Rio Tinto share price slips in London as iron ore weakens and Glencore clock ticks

Rio Tinto share price slips in London as iron ore weakens and Glencore clock ticks

London, January 20, 2026, 08:42 GMT — Regular session Rio Tinto (RIO.L) shares slipped 0.8% to 6,287 pence by 0842 GMT, hitting a session low of 6,236 pence earlier. (Google) The decline followed weaker iron ore prices, crucial for major miners. The most-active May contract in China closed Monday morning down 2.82% at 792 yuan a ton. On the Singapore Exchange, the benchmark February contract slipped 1.64% to $104.60 a ton, hitting a two-week low amid data pointing to persistent struggles in China’s property market. (Business Recorder) Investors are keeping an eye on Rio’s looming deadline involving Glencore. The company
20 January 2026
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Stock Market Today

AST SpaceMobile stock bounces late Friday as AT&T plays down Amazon Leo threat and a new 2x short ETF hits tape

AST SpaceMobile stock bounces late Friday as AT&T plays down Amazon Leo threat and a new 2x short ETF hits tape

7 February 2026
AST SpaceMobile shares jumped 9.1% to $101.79 Friday after a volatile week, with 15.9 million shares traded. AT&T said it will use Amazon Leo’s satellite network to reach business customers outside its terrestrial footprint but stated this will not affect its partnership with AST. A new 2x short ETF tied to ASTS, ticker ASTN, began trading on Cboe. AST’s next “BlueBird 7” satellite launch is set for late February on Blue Origin’s New Glenn.
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