Commodities Rollercoaster: Oil Rockets & Gold Smashes Records as Trade & Weather Woes Hit Agriculture (Sept 24–25, 2025)
Oil led commodity moves this week. On Sept 24 Brent crude jumped about 2.5% – its strongest gain since July – after U.S. stockpiles fell more than expected reuters.com. Supply concerns from geopolitics added fuel: planned disruptions in Iraq, reduced exports from Venezuela, and attacks on Russian energy sites kept markets nervous reuters.com reuters.com. US crude settled at ~$65 on Sept 24, up ~$1.60 for the day reuters.com. However on Sept 25 prices gave back some gains: Brent fell to ~$68.80 and WTI to ~$64.45 reuters.com. Traders attributed the pullback to profit-taking, a softer demand outlook, and imminent return of Kurdish oil exports reuters.com reuters.com. UBS analyst Giovanni Staunovo said markets are “risk-off” as equity slides weigh on crude reuters.com, while Phillip Nova’s Priyanka Sachdeva warned that resuming Kurdish flows could reignite an oversupply narrative reuters.com. U.S. bank analysts also flagged cooling fuel demand: U.S. September air travel was almost flat and gasoline demand is “pulling back” as summer winds down reuters.com reuters.com. Overall, prices remain elevated by seasonal demand and geopolitical risk, but fundamentals suggest easing into Q4.
