DBT Bureau
Pune, 14 March 2026
According to the latest weekly report by Geojit Financial Services, global commodity markets remained volatile this week, with precious metals facing pressure from a stronger U.S. dollar and easing expectations of near-term rate cuts, while crude oil prices gained amid escalating tensions in the Middle East involving.
- Precious metals are on track for a weekly decline, pressured by a stronger U.S. dollar as fading expectations of near term Federal Reserve rate cuts, driven by inflation worries stemming from rising energy costs on the wake of ongoing crisis in Iran.
- US Dollar index, a measure of greenback against six currency rivals, rebound to above 100 marks.
- U.S. inflation held steady in February at 2.4%, aligning with expectations and highlighting persistent underlying price pressures.
- Crude oil prices rose as Iran stepped up attacks on oil and transport facilities across the Middle East, raising fears of a prolonged conflict and oil-flow disruptions through the Strait of Hormuz.
- The International Energy Agency has proposed the release of 400 million barrels from oil reserves to bring down crude prices that have soared during the crisis in Iran.
- The OPEC+ has announced a minor increase in oil production of 206,000 barrels per day, starting in April 2026.
- Aluminium prices extended gains as the Middle East conflict that showed no signs of easing. The conflict driven supply disruptions from this key aluminium producing region had pushed prices upward, as the turmoil threatened to disrupt shipments from an area that contributed about 8% of global aluminium output last year.
- Copper inventories across the world’s three largest metal exchanges have surpassed 1 million metric tonnes for the first time in over 20 years, driven by weak demand in China and recent stockpiling in the U.S. Combined stocks on the COMEX, LME, and SHFE now stand at 1,012,065 MT.
- China’s unwrought copper imports declined by 16.1% year-on-year to 700,000 metric tonnes in the two months from January to February.
- U.S. natural gas storage is on track to end the November 2025-March 2026 winter withdrawal season at a four-year low of 1.789 trillion cubic feet on March 31.
