Commodities: Hormuz Remains Blocked For Now

ING Economic and Financial Analysis5.31K FollowersFollow5ShareSavePlay(7min)CommentsSummaryOil prices rebounded on Thursday after suffering their sharpest daily drop since April 2020, with ICE Brent rising more than 3% to trade back above USD 97/bbl.Gold pared earlier gains after Iran’s parliamentary speaker said last night a temporary ceasefire with the US had been violated.Data from Ukraine’s Agriculture Ministry shows that grain and legume exports in the 2025/26 marketing year have fallen to around 26.8mt as of 8 April, down 31% year-on-year.

Getty Images By Ewa Manthey, Commodities Strategist | Warren Patterson, Head of Commodities Strategy Energy – Oil rebounds amid Hormuz uncertainty Oil prices rebounded on Thursday after suffering their sharpest daily drop since April 2020, with ICE Brent rising moreThis article was written byING Economic and Financial Analysis5.31K FollowersFollowFrom Trump to trade, FX to Brexit, ING’s global economists have it covered. Go to ING.com/THINK to stay a step ahead. We’re sorry we can’t reply to individuals' comments.Content disclaimer: The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument.This publication has been prepared by ING solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. For our full disclaimer please click here.