War: Ukraine-Russia and Israel-Iran   Ukraine Lost More Eastern Territory but continued to inflict strategic losses on Russian ammunition supplies, oil refineries and fuel storage facilities.  Russian armored vehicle depots continued to deplete at rapid rates and Putin ordered a new mobilization to increase the military by 180,000 soldiers to…

During the month of September, Grains (+9.12%) and Metals (+5.90%) were the top performers. The only two negative performers were Energy (-0.80%) and S&P GSCI (-0.72%). The Bearish performance in Energy (-0.80%) was led by Reformulated Gas (-7.55%) and Light Sweet Crude (-7.31%).  The bullish performance in the Grains (+9.12%)…

Commodities: Global   OPEC Oil Production Fell to its lowest level since January to average 26.4 million barrels per day (mbpd) during August, per Reuters.  Iraq, however, continued overproducing, pumping 220,000 barrels per day extra (which were supposed to be reversed and more in the near future).  Oil exports at…

Ukraine-Russia War: Russian Problems & Reactions   The Ukraine-Russia Conflict continued with grinding incremental territorial losses by Ukraine in the east but with gains to north in Russia.  In particular, while the Ukrainians faced heavy pressure from the Russians in the Donbas city of Pokrovsk, they saw big wins in…