Markets · Commodity markets, August 12

Supply-side stress dominated the tape today

Wednesday, August 12, 2026. From GEO's evening brief, after the close.

Diesel led the move, with ULSD up 1.21% to $4.3040/gal as a Houthi strike on a Saudi refinery compounded an existing crunch, and the EIA raised its 2026 Brent outlook to $87/bbl on Hormuz constraints. Agriculture ran on its own tightening story, with corn up 4.40% after the August WASDE. Gold hit a two-month peak on cooling inflation data.

Written with AI from public sources, checked by code, reviewed by GEO. Not investment advice.