A commodity price refers to the cost at which a particular commodity can be traded at a given moment in the market. Commodities are raw materials or primary agricultural products that can be bought and sold, such as oil, gold, wheat, or coffee. These prices are determined by the forces of supply and demand within global markets and can be influenced by various factors, including geopolitical events, natural disasters, currency fluctuations, and changes in market sentiment. Commodity prices are integral to the global economy as they can affect the cost of goods and services, impacting inflation, trade balances, and even the monetary policy of nations. Commodity trading is typically carried out through futures contracts on exchanges that standardize the quantity and minimum quality of the trade.
To find out more information about commodity prices, please refer to the following sources:
1. U.S. Energy Information Administration (EIA)
The EIA provides comprehensive information on the prices of various energy commodities, including crude oil, natural gas, electricity, and more. It offers analysis, data, and forecasts that are crucial for understanding the energy markets.
Investing.com is a reliable resource for financial markets, including commodity prices. It offers real-time data, charts, and tools to analyze commodities like metals, energy, and agricultural products.
Please note that links and web pages are subject to change or become inactive over time; the above references were active and providing relevant information about commodity prices as of the knowledge cutoff date in April 2023.
This A.I.-generated glossary is intended to provide a convenient means to understand terminology used on this website in the context of physical commodities trading. Some terms may have alternative and/or expanded definitions that may not be relevant here and thus not included. Sources provided are for reference and not intended to be an endorsement of the broader content on that website. Suggestions, questions, or corrections can be provided in the comment box on definition pages.