Commodities (Crude Oil & Copper) & Macro Outlook

According to Shanghai Energy Exchange (SGE), effective June 2, 2026, the exchange is adjusting daily price limits and trading margin requirements for crude oil and low-sulfur fuel oil futures contracts. Daily limit will be set at 17% for both contracts. Hedge position margin requirement is 18%,

According to Jin10 Data on May 30, China's domestic airlines will reduce fuel surcharges starting June 5, 2026. For flights over 800 kilometers, the surcharge will be reduced from 170 yuan to 150 yuan per adult passenger; for flights of 800 kilometers or less, it will be reduced from 90 yuan to 80 y

On May 28, Chevron CEO Mike Worth stated at a Bernstein investment conference that global crude oil inventories are declining due to Iran-related tensions, indicating oil prices will likely rise over the next two months, according to CCTV Finance. The statement reflects broader concerns that

According to BlockBeats, the S&P 500 Index climbed for a ninth consecutive week, marking its longest winning streak since 2023, boosted by optimism over a potential U.S.-Iran ceasefire extension. Meanwhile, cryptocurrencies failed to follow broader risk assets higher. Bitcoin fell 2.6% to $73,445 ov

According to Japan Petrochemical Industry Association, Japan's ethylene plant operating rate fell to 67.3% in April—the lowest level since comparable data began in 1996—amid disruptions to oil shipments through the Strait of Hormuz. Ethylene production declined to 283,500 metric tons, down 37.1%

According to Wind data cited by Chinese Securities Journal, aluminum prices on the London Metal Exchange (LME) have climbed over 5% since May, with oxide aluminum and aluminum ingots posting continued gains. Domestic destocking is accelerating while overseas supply shortages persist, according to

Lithium prices climbed 42% year-to-date as of May 29, 2026, supported by booming energy storage demand. Major battery makers operating at full capacity, with global energy storage demand expected to exceed 50% growth in 2026. Though prices pulled back from a recent high of 209,880 yuan per ton,

According to Barclays, the bank maintained its 2026 Brent crude oil price target at $100 per barrel, noting that upside risks to the forecast remain in place.

According to Guru Club, Brent crude oil futures for July delivery fell 1.66 dollars, or 1.77%, to $92.05 per barrel on May 30, with cumulative losses in May reaching 16.62%. WTI crude oil futures for July delivery dropped 1.54 dollars, or 1.73%, to $87.36 per barrel, declining 11.88% for the

According to Bloomberg's grain commodity index, CBOT commodity prices declined on Friday (May 29). The Bloomberg grain index fell 1.59% to 31.1343 points, marking a 3.15% weekly decline and 3.85% drop for May. CBOT corn futures fell 5.85% for the month to $4.47 per bushel, while wheat futures decli

According to Bloomberg data, CBOT agricultural futures closed lower on May 29, with corn futures declining 5.85% to $4.47 per bushel for the month, and wheat futures dropping 4.16% to $6.1025 per bushel. Soybean futures fell 1.08% to $11.8650 per bushel, while soybean meal futures gained 3.36% and s

Inflation around the globe is becoming a dominant factor in financial conduct, and energy markets are significant contributors to this phenomenon. The changes in oil prices have an impact on the cost of production, and in most cases, they can cause inflation in most economies. Therefore, the

According to the U.S. Commodity Futures Trading Commission, speculators' net long positions in NYMEX WTI crude oil fell by 19,186 contracts during the week of May 26, declining to 91,163 contracts.

According to Jin10, on May 30 at 2:30 AM, Shanghai gold futures closed at 996 yuan per gram, up 1.61%, while Shanghai silver futures rose 0.64% to 18,323 yuan per kilogram. SC crude oil futures fell 1.61% to 580 yuan per

According to the Intercontinental Exchange, as of the week of May 26, Brent crude oil speculators reduced their net long positions by 56,568 contracts, bringing the total to 278,720 contracts.

The policies of global oil markets affect the stability of the worldwide economy and determine its inflation patterns. Oil choices have spillover effects across all large industries because production and transport incur costs that are influenced by energy prices. Financial markets are changing

The U.S. total rig count reached 562 in the week ended May 29, up from 558 a week prior, according to standard weekly drilling data.

U.S. oil drilling rigs totaled 429 for the week ended May 29, up from 425 rigs in the prior week, according to industry data.

The U.S. natural gas rig count remained at 125 for the week of May 29, unchanged from the previous week.