Commodity prices in 2026 set against what the IEA, OPEC, World Bank, ICSG and others forecast for oil, copper, iron ore, gold, coal and lithium.

Brent crude is back above US$100 a barrel. What is driving it, what could reverse it, and how the ASX oil names differ by stage, from producers to explorers.

Xstate Resources Limited (ASX: XST) has provided an operations update for Diona-1 within the Diona block, ATP 2077, in the Surat–Bowen Basin, Queensland (Figure 1). As at the time of writing, the well had reached 2,479 m MD, intersected its Jurassic primary target (non-hydrocarbon-bearing), and on entering the Permian encountered an ~181 m hydrocarbon-prone sequence with a significant overpressured gas column.