Commodities (Crude Oil & Copper) & Macro Outlook

WTI crude fell 11% to $84 as Middle East tensions eased, easing supply concerns that had boosted prices.

文章指出，比特幣近月波動率降至約42%，價格穩定在65,000–75,000美元區間，顯著低於 Kospi 的波動。美國現貨 ETF 的核准吸引機構資金進場，提升流動性與對沖能力，增強比特幣韌性。韓國股市因中東能源供應風險與油價波動劇烈，凸顯比特幣作為去國家化、相對穩定的避險資產的角色。

Gate News message, April 21 — Gold prices fell to $4,770.90 per troy ounce with a daily decline of 1.03%, while silver dropped to $78.333 per troy ounce, down 1.71% for the day. Bitcoin volatility index (BVIX) rose to 44.23, up 1.12%, and Ethereum volatility index (EVIX) climbed to 68.40, gaining 1.

Gate News: According to the latest Gate TradFi data, COFFEE (Coffee) has dropped by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Gate News message, April 21 — The U.S. State Department announced that American military forces boarded the stateless, sanctioned oil tanker M/T TIFANI in the Indo-Pacific region. The vessel underwent inspection as part of U.S. military operations in the

Russia says it is technically ready to resume oil shipments to Hungary via the Friendship Pipeline, but Kyiv's actions will determine resumption; Moscow cites Ukrainian extortion for the halt. Abstract: Russia states it is technically prepared to restart oil shipments to Hungary through the Friendship Pipeline, contingent on Kyiv's steps, with Moscow attributing the halt to Ukrainian extortion.

An Iranian oil tanker breached a U.S. blockade and entered Iranian territorial waters from the Arabian Sea on April 20, with support from the Iranian Navy, as reported by Tasnim News Agency on April 21.

Gate News message, April 21 — WTI crude oil (U.S. West Texas Intermediate) dropped below $86 per barrel, declining 1.6% during the session to trade at $85.97 per barrel.

Gate News message, April 21 — Lithium carbonate futures (a key raw material for EV batteries) fell 4% during intraday trading, currently quoted at 172,100 Chinese yuan per ton.

South Korea's exports rose 49.4% in early April, driven by strong semiconductor demand and high oil prices, leading to a $10.4 billion trade surplus. However, rising inflation and currency issues pose challenges for future growth.

Gate News message, a newly created wallet address "0xEbE" deposited $10 million USDC into HyperLiquid and opened a 63,000 BRENTOIL short position with 20x leverage. Another wallet "0x9D3", linked to the same whale, holds 20x short positions of 250,000 BRENTOIL (valued at $22.5 million) and 210,000 C

JackYi, founder of Liquid Capital, asserts the market is in a rally phase but anticipates a pullback due to potential triggers like declining U.S. equities and inflation data. He advises investors to focus on risk management and capital preservation.

Morocco's Ministry of Industry and Trade has extended safeguard measures on imported hot-rolled steel for three years, with declining tariff rates starting at 19% and covering specific tariff codes.

比特幣在經歷周末因美伊緊張局勢引發的劇烈波動後，於 4 月 21 日重回 76,000 美元附近。美國總統川普表示，美伊目前談判的協議將「優於」2015 年《聯合全面行動計畫》（JCPOA），且願意直接與伊朗領導人會談，言論一出暫時提振了市場情緒。但布蘭特原油持續波動至每桶 90 美元附近，使比特幣仍受謹慎情緒壓制。

The Trump administration has launched a claims portal for U.S. companies to recover over $160 billion in tariff refunds after a Supreme Court ruling. Major retailers like Walmart and Target are among those filing claims, with refunds processed by Customs and Border Protection in stages, typically issued within 60 to 90 days.

荷姆茲海峽近日再次成為台灣能源安全的焦點，尤其是台塑海運的「君善輪」載運200萬桶沙烏地阿拉伯的原油，正前往台灣麥寮港。雖然中東局勢緊張，船隻通行量創下新高，但美國總統川普明言伊朗政權更迭，可能使荷姆茲海峽的風險持續上升，市場需應對更長期的波動。

Battery-electric vehicle registrations in Europe surged 29.4% in Q1 2026, reaching nearly 560,000 units, driven by rising fuel costs. Significant growth was seen in major countries, contributing to energy security and reduced oil consumption. Global electricity demand grew 3% in 2025, mainly fueled by emerging markets, with buildings and data centers as key drivers.

4月20日，日本東北地區發生規模7.5強震，青森縣震度達5，並引發海嘯警報。地震對半導體供應鏈影響重大，尤其是Kioxia岩手廠，該廠佔全球NAND產能4%。停機檢查及復工情況將影響記憶體市場供應，此外，整個東北地區的半導體製造網絡也面臨風險，可能壓縮未來供給增量。

Kalshi and Polymarket face a potential Supreme Court showdown over the legality of prediction markets as inflation rises and stock markets hit record highs. The outcome may redefine how traders hedge economic risks amid conflicting court rulings on their operations.

川普首次在公開聲明中直接提到伊朗的「政權更迭」，並明言美方不受以色列影響。他借委內瑞拉作為類比，暗示對伊朗可能採取長期施壓策略。這將改變談判框架，並加大油價及市場波動的風險。台灣投資人需留意油價走勢、Fed聽證會反應及中美峰會的議程。