General Commodities: Broad commodity ETFs were largely positive, with 24 of the 25 funds in the broad natural-resources/commodity group posting daily gains. Energy-heavy commodity strategies led the advance, with USE gaining 2.3%, GSG rising 1.8%, and COMT and PDBC each gaining roughly 1.6%. Overall, diversified commodity exposure showed solid strength, with the group averaging about a 1.0% daily gain.
Oil & Gas: Oil and gas ETFs were broadly higher, with 13 of the 18 funds tracked posting gains. Gasoline exposure was among the strongest, with UGA up 4.5%, while crude-oil funds UCO and USO gained 3.5% and 3.3%, respectively. XOP also advanced 3.2%, reflecting strength among exploration and production companies. Natural gas was positive as well, with UNG gaining 2.0%. Overall, the group averaged approximately a 1.3% daily gain, although inverse energy products declined as underlying energy prices strengthened.
Metals: Metals were more mixed than the broader commodity and energy groups. Precious metals showed relative strength, led by palladium and silver, with PALL gaining about 1.5% and SLV rising 1.2%. Meanwhile, some mining and industrial-metal ETFs moved lower, including COPX at -1.2%, SLVP at -1.0%, and URA at roughly -1.0%. Overall, 20 of the 34 metals-related funds tracked finished higher, leaving the group modestly positive on average.
General Commodities: Commodity markets were mixed heading into September 16, with energy prices pulling back after Tuesday’s sharp rally while metals generally strengthened. Markets remain heavily influenced by Middle East tensions, supply disruptions, and expectations surrounding the FOMC announcement. The U.S. dollar was relatively flat, while elevated energy and diesel prices continue to contribute to inflation and supply-chain concerns.
Oil & Gas: Oil prices retreated in pre-market trading after strong gains the previous session, with WTI down 2.4% to $103.28 and Brent down 1.6% to $107.04. The pullback came as reports suggested Saudi Aramco could partially restore operations on the East-West pipeline within days, although full repairs may take 6–8 weeks. Supply risks remain elevated amid Middle East tensions, while diesel prices continue to sit at record levels. Natural gas rose 0.5% to $2.935, supported by lower production and continued seasonal cooling demand.
- Oil & Gas:
- Pricing
- WTI (2.4%) to $103.28 (Oct)
- Brent (1.6%) to $107.04 (Nov)
- Natural gas +0.5% to $2.935 (Oct)
- RBOB (1.5%) to $3.415 (Oct)
- ULSD (0.3%) to $5.247 (Oct)
- Pricing
Metals: Metals were broadly stronger, led by precious metals. Gold gained 1.41% to $4,393.90/oz, silver rose 2.51% to $65.46/oz, and copper increased 1.16% to $6.518/lb. Aluminum, nickel, and zinc moved lower. Mining commodities were supported by a relatively flat U.S. dollar, while investors remained focused on the Fed and upcoming U.S.-China developments.
- Metals Pricing:
- Gold +1.41% to $4393.9/oz, Monthly (0.98)%, YTD +1.22%:
- Silver +2.51% to $65.46/oz, Monthly +0.54%, YTD (7.28)%:
- Copper +1.16% to $6.518/lb, Monthly (1.44)%, YTD +14.71%:
- Aluminum (1.54)% to $3260/mt, Monthly +0%, YTD +0%:
- Nickel (0.43)% to $16135/mt, Monthly +0%, YTD +0%:
- Zinc (0.73)% to $3922/mt, Monthly +0%, YTD +0%:
- VanEck Gold Miners ETF +0% to $94.13, Monthly +4.62%, YTD +9.75%:
- VanEck Junior Gold Miners ETF +0% to $120.31, Monthly +1.88%, YTD +5.74%:
- US Dollar +0.03% to $99.647, Monthly (0.02)%, YTD +1.35%:
- CBOE Volatility Index (1.06)% to $18.35, Monthly +2.4%, YTD +10.99%:
