Commodities (Crude Oil & Copper) & Macro Outlook

South Africa's government announced on June 1 that gasoline prices will increase by 143 cents per liter starting in June. The price adjustment follows the country's monthly fuel pricing review.

According to Gate's data, Brent crude oil surged 3.00% intraday on June 1, now trading at $94.08 per barrel.

According to Jin10, Aerolíneas Argentinas announced on May 31 that it has canceled special World Cup flights to Miami due to rising fuel costs. The airline had previously announced in February plans to launch dedicated flights from Rosario, Córdoba, and Tucumán to Miami starting June 8. However,

According to Spain's Cores (Spanish Oil Product Strategic Reserves Company), the country's motor fuel consumption declined 1.2% year-over-year in April, down 3.4% compared to March.

According to Guru Club, on June 1, WTI crude oil surged 3% intraday to $92.94 per barrel. WTI crude oil futures climbed above $91 per barrel, gaining 4.17% within the day.

According to S&P Global, UK manufacturing input prices approached a four-year high in May, with supply chain pressures persisting. The data reflects continued inflationary pressure on manufacturing costs.

Digital Quant 2026, organized by Barron's China and DeAI Expo, concluded on June 1, 2026, after 60 days of live trading in Hong Kong. The competition marked the first in the Asia-Pacific region to integrate autonomous AI agents into real-money trading environments. SuperWeb3.org Team secured first p

According to Jin10, on May 31, the European Union is considering suspending the automatic adjustment mechanism for its price cap on Russian Urals crude, currently set at $44.10 per barrel, as Middle East conflict drives oil prices higher. The EU's dynamic pricing mechanism, adopted last year, automa

According to Guru Club, WTI crude oil futures rose 3.98% to $90.837 per barrel and Brent crude oil futures gained 3.53% to $94.341 per barrel today (June 1).

According to Phil Smith, deputy chief economist at S&P Global Market Intelligence, Germany's manufacturing recovery stalled in May, with new orders declining for the first time this year. Smith noted that demand weakness is becoming apparent amid elevated uncertainty and surging prices.

According to Goldman Sachs and Citibank on June 1, major banks upgraded copper price forecasts. Goldman Sachs raised its end-2026 LME copper price target to $13,735 per metric ton, while Citibank increased its near-term target to $14,500 per metric ton with a 6-12 month goal of

According to Hyperinsight monitoring, Trade.xyz's HIP-3 traditional asset contracts generated $2.16 billion in volume on June 1, representing approximately 0.139% of the broader traditional market (ETF, futures, and equities combined at $15.6 trillion). In commodity markets, Trade.xyz's Brent

According to Norwegian labor union, 617 members in the oil and gas industry have threatened to strike starting June 5. The strike action represents the union's latest escalation in negotiations with employers in the energy

According to Shanghai Futures Exchange data, pulp futures warehouse receipts rose to 218,028 tonnes on June 1, up 10,762 tonnes from the previous trading day. Pulp futures factory receipts remained unchanged at 20,000 tonnes. Among other energy and chemical products, coated paper futures factory rec

The Russian government imposed a temporary export ban on aviation kerosene, including supplies purchased on exchanges, effective June 1, 2026, to ensure stable domestic fuel supply. The ban will remain in place through

According to Guru Club, Chinese commodity futures closed mostly higher on June 1. Shipping-EU routes surged over 11%, coke coal climbed more than 7%, and egg futures hit the daily limit with a 6% gain. Coke rose over 4%, while asphalt, fuel oil, and polysilicon each gained over 3%. Natural rubber, r

According to Jin10, on June 1, Trump said negotiations on a temporary peace agreement with Iran would yield "very positive" results, despite recent military clashes near the Strait of Hormuz. The administration is under pressure to end the conflict, which has driven up energy prices and remains

According to Guru Club, the Shanghai Containerized Freight Index (ECN route) main contract surged 13% intraday on June 1, trading at 3945.0 points.

According to Hyperinsight data, Hyperliquid captured $914 million in open positions over the weekend of June 1, with traditional assets accounting for 19% of weekend trading volume. The platform's 24/7 trading enabled investors to access commodities and equities while traditional markets remained

According to Guru Club, on June 1, coke futures hit their daily price limit, surging 7.98% to 1,387.50 yuan per ton. Coking coal futures also jumped 6.00%, trading at 2,015.50 yuan per ton.