Energy drove Q3 commodity gains as refined-product prices rose

Energy was the main driver of broad commodity strength in the third quarter of 2026, according to VanEck, which said conflicts and refining constraints pushed refined-product prices higher while two broad commodity benchmarks finished September up roughly 32% for the year. In its Oct. 14, 2026 commentary, VanEck said energy led Q3 commodity gains as conflicts and refining constraints lifted refined-product prices. The firm said the UBS Constant Maturity Commodity Index (CMCITR) and the Bloomberg Commodity Index (BCOM) each ended September up roughly 32% year to date.

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