Oil Prices Hold Steady Amid Global Tensions

Oil prices continued to fluctuate yesterday, but ultimately settled largely flat. Brent crude was among those that remained unchanged throughout much of the session.

The European gas market saw a notable increase in prices this week, with TTF pushing above EUR 60/MWh. However, data on positioning tells a different story.

Grain prices experienced a surge yesterday, with CBOT wheat futures rising nearly 3.6% to settle for the day. Despite the USDA lowering its corn yield forecast from 183bu/acre to 180.7bu/acre for the 2026/27 US crop, it still revised its production estimate up slightly by 13m bushels to 16.01bn bushels.