Commodities (Crude Oil & Copper) & Macro Outlook

WTI crude oil rose 3.0% intraday to $101.06 per barrel, while Brent crude gained 2.5% to $106.87 per barrel on May 12.

According to energy intelligence reporter Amena Bakr, the liquefied natural gas carrier Al Sahla, operated by Qatar Energy, docked at Kuwait's Al Zour terminal on May 12. This is the fourth and latest Qatar Energy-operated LNG vessel to discharge cargo in Kuwait since Middle East tensions

According to Agence France-Presse, the U.S. Treasury Department imposed sanctions on 12 entities on Monday (May 11), including those in Hong Kong, for allegedly transporting Iranian oil to China. In response, China's Foreign Ministry spokesperson said Beijing firmly opposes illegal unilateral sancti

According to Shanghai Futures Exchange data on May 12, energy and chemical commodity warehouses recorded mixed movements. Crude oil asphalt factory inventory rose to 31,220 tons, up 9,430 tons from the previous trading day. Conversely, low-sulfur fuel oil warehouse stocks declined to 13,040 tons,

Low-sulfur fuel oil (LU) futures rose 4.00% intraday to 5,121 yuan per ton on May 12. Shanghai crude oil (SC) futures gained 2.00%, trading at 645.40 yuan per barrel.

WTI crude oil rose 2% to $100.61 per barrel today, while Brent crude climbed 1.75%.

According to Glon Hui, India's Oil Minister stated on May 12 that India has never imported liquefied natural gas from Russia.

LPG main contract futures jumped 401 yuan intraday on May 12, reaching 6,131 yuan per ton with a 7% gain.

According to Glontech, polysilicon futures on China's Guangzhou Futures Exchange fell nearly 5% on May 12, trading at 36,765 yuan per ton.

According to Gelonghui, Shanghai copper futures rose over 3% to 107,560 yuan/ton today (May 12). International copper futures also gained over 3%, trading at 95,380 yuan/ton.

Peru has issued an emergency energy decree following a liquidity crisis at the state-owned oil company, according to data from the U.S. Geological Survey and World Silver Association. The country holds 21.8% of global silver reserves and accounts for approximately 14% of global silver production,

According to Mexico's state oil company Pemex, a cooling tower fire at the Salina Cruz Refinery's hydroelectric unit 2 has been brought under control. Six people were injured in the incident and have been hospitalized at local medical facilities. Pemex stated that the situation is under control and

Iran War Triggers Historic Oil Shortage Shell CEO Wael Sawan warned on May 11, 2026, during the company's first-quarter earnings call that the global oil market is short almost 1 billion barrels of crude due to months of disruption triggered by the Iran war. According to Sawan, the oil had

According to Financial Times, major oil producers including ExxonMobil, Shell, and Repsol bid a record $163 million in March for leases in Alaska's National Petroleum Reserve. The bidding reflects increased interest from global energy companies in Arctic exploration. According to the U.S.

According to Financial Times, hedge funds have surged into agricultural commodity markets for biofuel production following energy market volatility triggered by the Iran conflict. Net positions in soybean oil, used for biodiesel production, have nearly tripled since the outbreak of the Middle East c