Commodity Market Recap Week #27

Last Week’s Commodity Highlights and How to Predict What’s Next

Dear Readers of The Merchant’s News,

Last week, something big happened in the world of oil and energy. A group called OPEC+ suddenly decided to pump out a lot more oil than people expected. This shocked traders and made oil prices drop fast, like a roller coaster going down!

Now, one barrel of oil costs less than $70. That’s because there will be lots more oil soon, and people aren’t sure how much energy the world will need with some countries, like the U.S., making trade harder.

But not everything is bad news. Gold is still shining bright because when people worry about money, they buy gold to feel safe.

Big oil companies like ExxonMobil and Chevron are still making big plans for the future. And miners are digging deep, hoping people will still need metals like copper and silver later on even though today’s market feels a little crazy.

The energy world is full of surprises and this week showed just how fast everything can change!

Agenda
Here’s what we’re going to talk about:

• 🛢️Oil and Gas: What happened with oil and natural gas prices last week and why

• 🏭Big Oil Companies: Quick updates on BP, Shell, Chevron, and Exxon Mobil how their stocks are doing and what’s new

• 🧈Metals: How gold, silver, and metals like copper are moving

• ⛏️Mining Companies: The latest on Glencore, Rio Tinto, and BHP, and their stock trends

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🛢️ Oil and Gas

• Brent Crude Oil: Brent, the global oil benchmark, tumbled to $68.06 per barrel. The sharp drop came after OPEC+ agreed to increase production by 548,000 barrels per day (bpd) in August, a figure that exceeded market expectations and signaled a more aggressive stance on reclaiming market share

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