Commodity Markets Surge Amid U.S. Tariff Adjustments

Oil prices rebounded sharply as President Trump temporarily lowered tariffs on several countries but increased them on China. This triggered a rally in commodities and equity markets, with notable gains in natural gas and copper. Agricultural commodities saw measured gains amid ongoing U.S.-China trade fears.

On Wednesday, oil prices soared after a four-year low, sparking a broader rally in commodities and equities. This came as U.S. President Donald Trump announced a temporary reduction in tariffs on numerous countries, while simultaneously increasing duties on Chinese goods.

Natural gas prices in the U.S. surged by 10%, and copper saw a nearly 3% rise after reaching an eight-month low earlier. Agricultural commodities such as soybeans saw gains, albeit in a more measured fashion due to ongoing trade concerns with China.

Major stock indexes climbed after Trump revealed a 90-day suspension on many new tariffs. However, tariffs on Chinese products were increased to 125%, underscoring the persistent trade tensions. Metals, including gold, copper, and aluminum, also saw gains amidst the evolving tariff landscape.

(With inputs from agencies.)