Commodities
Energy, metals, grains & softs · prices and curve shape
$2,338
$78.42
$4.428
$2.684
Complex Performance
Average daily move by commodity group
Curve Shape
6 of 18 markets in backwardation
WTI Crude Oil, Brent Crude, Gasoline RBOB, Copper, Coffee
Natural Gas, Gold, Silver, Platinum, Palladium
Backwardation makes rolling a long position profitable. Contango costs you on every roll, whether or not the spot price moves.
Commodity Prices
Front-month contracts across 18 markets
| Commodity | Exchange | Price | Unit | 1D | 1W | YTD | Curve |
|---|---|---|---|---|---|---|---|
WTI Crude Oil CL · Energy | NYMEX | 78.42 | $ / bbl | -1.24% | -2.86% | +9.41% | Backwardation |
Brent Crude BZ · Energy | ICE | 82.61 | $ / bbl | -1.08% | -2.42% | +8.74% | Backwardation |
Natural Gas NG · Energy | NYMEX | 2.684 | $ / MMBtu | +2.41% | +5.18% | -12.36% | Contango |
Gasoline RBOB RB · Energy | NYMEX | 2.412 | $ / gal | -0.86% | -1.94% | +6.22% | Backwardation |
Gold GC · Precious Metals | COMEX | 2,338.40 | $ / oz | +0.62% | +1.84% | +13.28% | Contango |
Silver SI · Precious Metals | COMEX | 29.16 | $ / oz | +1.14% | +3.42% | +22.61% | Contango |
Platinum PL · Precious Metals | NYMEX | 1,012.80 | $ / oz | +0.38% | +0.94% | +2.14% | Contango |
Palladium PA · Precious Metals | NYMEX | 946.20 | $ / oz | -0.72% | -2.16% | -14.82% | Contango |
Copper HG · Base Metals | COMEX | 4.428 | $ / lb | +0.84% | +2.06% | +15.94% | Backwardation |
Aluminium ALI · Base Metals | LME | 2,486.00 | $ / t | +0.42% | +1.18% | +9.36% | Contango |
Zinc ZNC · Base Metals | LME | 2,884.50 | $ / t | -0.34% | +0.62% | +8.12% | Contango |
Nickel NI · Base Metals | LME | 17,240 | $ / t | -1.16% | -3.28% | +4.68% | Contango |
Corn ZC · Grains | CBOT | 442.25 | ¢ / bu | -0.64% | -1.82% | -6.14% | Contango |
Wheat ZW · Grains | CBOT | 596.50 | ¢ / bu | +1.42% | +4.26% | -2.38% | Contango |
Soybeans ZS · Grains | CBOT | 1,168.75 | ¢ / bu | -0.28% | -0.94% | -8.62% | Contango |
Coffee KC · Softs | ICE | 228.40 | ¢ / lb | +2.86% | +6.14% | +34.28% | Backwardation |
Sugar SB · Softs | ICE | 19.42 | ¢ / lb | -1.08% | -2.64% | -6.92% | Contango |
Cocoa CC · Softs | ICE | 7,842 | $ / t | +3.24% | +8.42% | +88.14% | Backwardation |
Biggest Gainers
Front-month move today
Cocoa
Softs
Coffee
Softs
Natural Gas
Energy
Wheat
Grains
Silver
Precious Metals
Biggest Losers
Front-month move today
WTI Crude Oil
Energy
Nickel
Base Metals
Sugar
Softs
Brent Crude
Energy
Gasoline RBOB
Energy
Understanding Commodities
Commodity prices are set by the physical market — weather and planting cycles for grains, OPEC+ policy and inventories for crude, mine supply and industrial demand for metals — and then filtered through the dollar, since almost everything here is priced in it. A stronger dollar makes commodities more expensive in every other currency and tends to weigh on them, all else equal.
The curve matters as much as the price. Nearly all commodity trading happens through dated futures, so a position held past expiry has to roll into the next contract. In contango that roll costs you on every cycle even if spot never moves; in backwardation it pays you. It is the single most common reason a long commodity position underperforms the price chart it was based on.
Spot vs Futures
Spot is the price for immediate delivery; a future is a dated contract. Most commodity trading is done through the futures curve, not the spot market.
Contango
Later contracts priced above nearer ones — the normal shape for storable goods, reflecting storage, insurance and financing costs.
Backwardation
Nearer contracts priced above later ones. Signals tight near-term supply, and makes rolling a long position profitable rather than costly.
Roll Yield
The gain or loss from rolling an expiring contract into the next month. Negative in contango, positive in backwardation, and it compounds.
Frequently asked
Almost always a futures contract, or a CFD priced from one. That distinction matters because a futures contract has an expiry: the price you see refers to a specific delivery month, and when that month rolls, the quoted price steps to the next contract. Spot gold and silver are the common exceptions — those trade much like a currency pair, which is why XAU/USD sits comfortably alongside FX majors.