Oil Rises, Gold Gains, Cocoa Disruption Fuels Mixed Resource Momentum

Crude Oil Gains as Tariff Tensions Ease, OPEC+ Output Eyed

Crude oil prices ticked upward as investors reacted to U.S. President Donald Trump’s decision to extend the EU tariff deadline to July 9. The delay averted an immediate disruption to international trade, briefly boosting sentiment around global demand. Brent crude rose by 0.4% to $65.04 per barrel, while WTI settled at $61.77, reflecting guarded optimism among traders.

However, analysts caution that gains may be capped due to potential production increases from OPEC+ in July. The group is reportedly considering a supply hike of 411,000 barrels per day, which could limit upward pressure on prices heading into Q3. Any such decision would come amid a fragile equilibrium between recovering demand and looming supply surpluses (Reuters).

Natural gas markets, meanwhile, have entered a rebalancing phase after several years of geopolitical disruption. Stabilizing prices and rising industrial demand—especially from Asia—are setting the stage for structural growth in 2025 and beyond. Emerging economies are leading the rebound, with sectors like manufacturing and power generation driving consumption (Economic Times).

Gold Holds Steady Amid Geopolitical Jitters and Central Bank Demand

Gold continues to show resilience, holding firm as a safe-haven asset in a world fraught with political uncertainty. UBS analyst Joni Teves noted that macroeconomic headwinds, including inflation persistence and interest rate ambiguity, are driving investor demand. Central bank purchases remain elevated, adding further support to gold’s bullish outlook.

Despite recent price fluctuations triggered by geopolitical headlines—ranging from Trump’s tariff diplomacy to lingering tensions in Ukraine—fundamental demand remains intact. With inflation concerns still hovering and long-term rates uncertain, gold is likely to remain an attractive diversifier throughout 2025 (Economic Times).

Cocoa Crisis Deepens as West Africa Battles Weather and Supply Shocks

In the agricultural space, cocoa markets are under intense pressure. Prices continue to hit record highs due to disastrous growing seasons in West Africa, where a mix of heavy rainfall, crop disease, and illegal mining has decimated yields. Compounding the problem are rising production costs and a spike in smuggling, which has distorted official export flows and futures pricing.

Analysts warn the crisis—now in its second consecutive year—may reshape the chocolate supply chain as companies scramble to secure alternative sources. According to available data, volatility in cocoa futures is at a multi-year high, with no clear resolution in sight (Wikipedia).

As commodities move into the second half of 2025, stakeholders must brace for continued cross-sector volatility. From energy and metals to food staples, supply chains remain vulnerable to both policy shifts and climate unpredictability.