Commodities (Crude Oil & Copper) & Macro Outlook

According to French Finance Minister Lecours, on May 13, the rare earth market needs to be organized to prevent any single country from forming a monopoly. The statement underscores France's commitment to ensuring diverse sourcing of critical minerals essential for renewable energy and defense

French Finance Minister Bruno Lescure said on the sidelines of next week's G7 meeting that there are currently no plans for a new round of strategic oil reserve releases, though the issue could be discussed in coming

According to Jin10 Futures, Shanghai aluminum futures rebounded on May 13, with the main contract closing up 240 yuan/ton, or 0.97%. Macroeconomic pressure intensified as U.S. April CPI rose 3.8% year-over-year, the fastest pace since 2023, leading markets to lower expectations for Federal Reserve r

According to Jin10, the Shanghai Futures Exchange released warehouse receipts data for commodity futures on May 13. Notable increases included aluminum up 2,034 tonnes, nickel up 2,450 tonnes, copper up 4,317 tonnes, and silver up 35,232 kg. Zinc, stainless steel, and lead also recorded gains,

According to the International Energy Agency (IEA) monthly report, global refining capacity will decline by 1.6 million barrels per day in 2026 due to attacks, reduced crude oil supply, and export restrictions.

According to the IEA monthly report, since February, global oil supply has lost 14 million barrels per day due to the Strait of Hormuz closure.

According to LME, metal inventories fell on May 13, with copper down 1,450 tonnes, aluminum down 2,250 tonnes, zinc down 1,150 tonnes, nickel down 996 tonnes, lead down 250 tonnes, and tin down 115 tonnes.

According to the latest IEA monthly report, U.S. crude oil supply is projected to increase by 610,000 barrels per day in 2026.

According to the IEA monthly report, Russia's oil product exports fell to 2.2 million barrels per day in April, down 340,000 barrels per day from March, marking the lowest level on record. The decline was driven by a gasoline export ban and reduced refinery utilization rates, the International

According to the IEA's April monthly report, OPEC+ crude oil supply decreased by 830,000 barrels per day in April.

According to its monthly report, the International Energy Agency revised its second-quarter oil demand forecast to a decline of 2.45 million barrels per day, raising the downward adjustment from its previous estimate of 1.5 million barrels per day.

According to the International Energy Agency (IEA), the market report originally scheduled for June release and containing 2031 forecasts has been postponed. The report's new release date was not disclosed.

According to the IEA monthly report released on May 13, the organization projects that OPEC+ member countries' oil production will decline by 4.7 million barrels per day in 2026.

According to the International Energy Agency (IEA) on Wednesday, global oil inventories declined at a record pace in April amid ongoing Middle East supply disruptions related to Iran. Crude and refined oil stocks fell by nearly 4 million barrels daily in April—equivalent to the combined

According to IEA's monthly report, non-OPEC+ oil production is forecast to increase by 820,000 barrels per day in 2026.

According to the International Energy Agency's monthly report, transport flows through the Strait of Hormuz are expected to gradually resume starting in June, based on the agency's baseline assumptions.

According to the IEA monthly report, global oil supply declined by 1.8 million barrels per day in April, falling to 95.1 million barrels per day. The decrease marks a further contraction in global oil output.

According to the International Energy Agency's (IEA) monthly report on May 13, OPEC's spare production capacity has fallen to a historic low of 170,000 barrels per day.

According to the International Energy Agency (IEA), global oil supply is expected to decline by 3.9 million barrels per day in 2026 due to supply disruptions caused by the Iran war, while demand is projected to fall by only 420,000 barrels per day. The Middle East has already lost more than 1

According to Fujairah Petroleum Industry Zone data, refined oil inventories at the Fujairah port fell by 4,000 barrels to 6.497 million barrels for the week ending May 11. Light distillates declined 20,000 barrels to 2.531 million barrels, while middle distillates rose 1,000 barrels to 1.129 million