Daily Commodity ETF Summary — August 3, 2026
Commodity ETFs finished the latest trading session with a pronounced split between energy-related funds and metals-oriented strategies. Oil and gas ETFs were broadly higher, led by the SPDR S&P Oil & Gas Equipment & Services ETF (XES), which gained 3.09%, and the VanEck Oil Services ETF (OIH), up 2.39%. Exploration-and-production funds also advanced, with XOP gaining 1.45% and IEO rising 1.37%. Direct oil exposure strengthened as DBO rose 1.56%, BNO gained 1.45% and USO advanced 1.33%. Natural-gas products were positive but more restrained: UNG added 0.50%, while the leveraged BOIL gained 1.23%. Inverse energy products moved lower, with KOLD declining 1.11% and SCO falling 1.02%.
Broad energy-sector ETFs participated in the rally. RSPG gained 1.45%, while FENY, VDE and XLE each rose approximately 1%. By contrast, materials and natural-resource equities generally declined. VAW fell 2.38%, XLB lost 2.34% and FMAT declined 2.33%. More diversified futures-based commodity funds were relatively stable to positive, including SDCI at +0.63%, DBC at +0.44%, PDBC at +0.34% and GSG at +0.28%.
Precious-metals ETFs traded sharply lower despite modest increases in underlying metals futures during Monday’s premarket session. Gold funds GLD and IAU declined 1.49% and 1.46%, respectively, while silver products underperformed: SLV fell 2.13% and SIVR lost 2.08%. Palladium declined 2.60%, although platinum was comparatively resilient, with PLTM slipping only 0.13% and PPLT falling 0.47%. Mining equities experienced steeper losses, led by GDXJ at −3.69%, SLVP at −3.63%, GDX at −3.49% and SIL at −3.20%.
Industrial-metals ETFs were mixed. Copper-linked CPER gained 0.56% and the diversified DBB base-metals fund rose 0.48%. However, lithium and critical-materials strategies weakened, with LIT down 0.85%, REMX falling 0.72% and SETM declining 2.30%. Copper miners also moved lower, as COPX fell 0.81%, while the broader XME metals-and-mining ETF declined 1.19%. Uranium funds remained under pressure, with URA falling 1.64% and URNM losing 1.78%.
Agricultural commodities were also mostly lower. Wheat was the weakest major exposure, with WEAT declining 3.29%, followed by the agribusiness-focused MOO at −2.16%. CORN fell 0.62% and SOYB slipped 0.08%, while the diversified DBA agriculture fund edged 0.11% higher. Overall, the session favored oil, energy equities, copper and diversified commodity strategies, while precious-metals miners, materials stocks, uranium and wheat experienced the greatest selling pressure.
Oil & Gas
Oil prices fell sharply Monday morning, extending last week’s decline as markets responded to signs of potential de-escalation between the United States and Iran. President Trump reportedly canceled a planned attack on Iranian energy infrastructure to allow negotiations to resume, while talks conducted through Oman regarding the restoration of shipping through the Strait of Hormuz were said to be approaching their final stages. Iran’s Revolutionary Guard disputed reports that an agreement had been reached, leaving geopolitical risk elevated.
Additional downward pressure came from OPEC+, which completed the unwinding of its 1.65 million-barrel-per-day production cuts with a final 188,000-barrel-per-day increase for September. Shipping conditions also showed tentative improvement as two Saudi tankers crossed the Bab el-Mandeb Strait, while Turkey and Iraq extended their pipeline agreement for another year to support additional export routes.
Natural gas was modestly higher after falling 5% last week. U.S. dry-gas production remains elevated near 111 Bcf per day, while LNG feedgas demand continues to run below recent highs. Lower Henry Hub prices could encourage greater natural-gas use for power generation during the coming weeks.
Oil & Gas Pricing
- WTI crude: $79.27 per barrel, down 6.38% — September contract
- Brent crude: $83.28 per barrel, down 5.25% — September contract
- Natural gas: $2.76 per MMBtu, up 0.40% — September contract
- RBOB gasoline: $3.01 per gallon, down 3.24% — September contract
- ULSD/heating oil: $4.01 per gallon, down 2.02% — September contract
Metals & Mining
Metals opened the week with a generally positive tone as renewed hopes for Middle East de-escalation improved broader risk sentiment and weakened the U.S. dollar. Gold and silver moved higher, supported by the softer dollar, while copper, nickel and zinc also advanced. Aluminum was the principal decliner, falling slightly more than 1%.
Mining equities were mixed in premarket trading. Newmont and Barrick gained approximately 1.1%, while Freeport-McMoRan declined 0.8%. The VanEck Gold Miners ETF and VanEck Junior Gold Miners ETF were little changed after recording losses for both the month and year to date.
Kazatomprom reported second-quarter uranium production of 18.58 million pounds of U3O8, an 8% increase from the prior-year period. Sales rose to 17.75 million pounds from 13.17 million pounds, while the average realized price increased to $66.61 per pound from $58.67. The company maintained its full-year production guidance.
Metals Pricing
- Gold: $4,112.60 per ounce, up 0.14%
- Silver: $58.10 per ounce, up 0.54%
- Copper: $6.508 per pound, up 0.66%
- Aluminum: $3,196 per metric ton, down 1.08%
- Nickel: $17,100 per metric ton, up 0.91%
- Zinc: $3,710.50 per metric ton, up 1.32%
- VanEck Gold Miners ETF: $74.10, unchanged
- VanEck Junior Gold Miners ETF: $95.39, unchanged
- U.S. Dollar Index: 99.799, down 0.12%
