Real-time prices for crude oil, precious metals, energy, and agricultural commodities. Use this data to understand market conditions and benchmark your deals before you trade.
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Every commodity has an internationally recognised pricing benchmark. Understanding which benchmark applies to your trade is critical for negotiating fair contracts and avoiding disputes.
The global benchmark for approximately two-thirds of the world's crude oil trading. Brent is priced in USD per barrel and quoted on the Intercontinental Exchange (ICE). Most international crude contracts reference Brent.
The London Bullion Market Association (LBMA) Gold Price is the globally recognised reference for gold transactions. Set twice daily in USD per troy ounce via an electronic auction process.
The London Metal Exchange (LME) is the primary price discovery venue for base metals including copper, aluminium, zinc, nickel and lead. The LME Official Price is set daily and used in mining and trading contracts globally.
The Chicago Board of Trade (CBOT), part of CME Group, is the primary exchange for agricultural commodity futures including wheat, corn, soybeans and soybean meal. CBOT prices are used globally as benchmarks in physical contracts.
Understanding the difference between these key pricing concepts will help you read and negotiate commodity contracts with confidence.
Gross weight includes packaging; net weight is the commodity itself. All commodity contracts must clearly specify which weight basis is being used for pricing, particularly for bulk products like grain, sugar or coal.
The date on which the price is fixed for the transaction. Contracts typically reference the LBMA fix, ICE settlement, or LME Official Price on a specific date or average over a defined quotation period.
Physical commodity prices are typically quoted as a differential to the benchmark (e.g., Brent +$2.50/bbl). The differential reflects quality, location, timing and supply/demand dynamics specific to that physical cargo.
The Incoterm (FOB, CIF, CFR, DDP, etc.) directly affects the price. FOB price does not include freight; CIF includes cost, insurance and freight. Always confirm which Incoterm applies when comparing prices.
Most commodities are priced in USD. If your home currency is GBP or EUR, exchange rate movements between contract signing and payment can significantly affect your net return. Consider USD/GBP or USD/EUR hedging.
Spot price is for immediate delivery. Forward/futures price is for delivery at a future date. Physical commodity trades are often priced against a nearby futures contract plus a quality/location differential.
Many commodity deals use a provisional invoice based on estimated weight or provisional price, followed by a final invoice once the cargo has been weighed and assayed at the discharge port — standard in mineral and metal trades.
For metals (e.g., copper concentrate, gold doré), the final payment is adjusted based on the assay result at the refinery. The contract specifies payable metal, deductions for impurities and the applicable schedule of charges.
Macroeconomic events directly move commodity prices. Track upcoming data releases, central bank decisions and geopolitical events that impact your markets.
Commodity prices originate from a small number of authoritative global exchanges and independent pricing services. Understanding these sources will help you verify the prices you are quoted.
Primary exchange for Brent Crude, gas oil, natural gas, cocoa, coffee, sugar, cotton and frozen concentrated orange juice. ice.com
WTI crude, natural gas, gold, silver, copper, platinum, palladium, wheat, corn, soybeans. cmegroup.com
Copper, aluminium, zinc, nickel, lead, tin. Daily Official Price and Settlement Price are the global benchmarks for base metals. lme.com
Gold and silver reference prices, set twice daily (gold) and once daily (silver) via electronic auction. The global standard for precious metals. lbma.org.uk
Independent price reporting agencies (PRAs) that publish daily assessed prices for physical commodities. Widely referenced in OTC contracts for crude, LNG, petrochemicals and agricultural products.
The USDA World Agricultural Supply and Demand Estimates (WASDE) report and the FAO Food Price Index are key reference points for agricultural commodity supply and global food market trends.
Use our live market data to benchmark your deal, then access 12 professional commodity trading templates — pre-drafted by international trade professionals, fully compliant with ICC, UNCITRAL and Incoterms 2020 standards.