Commodities (Crude Oil & Copper) & Macro Outlook

Canada's April merchandise trade surplus climbed to CAD 2.72 billion, marking the highest level since January 2026, according to official trade data. Total exports rose 1.6% month-over-month to a record CAD 75.2 billion, driven primarily by a 7% surge in crude oil exports following rising oil

According to India's Deputy Commerce Secretary Ravi Teja, the country is considering extending a tax exemption on 40 petrochemical products imported for plastic and pharmaceutical manufacturing beyond the June 30 deadline. The original policy, announced in April, was implemented to address

According to White House officials, WTI crude oil fell 4.0% to $87.54 per barrel and Brent crude declined 3.5% to $90.86 per barrel today (June 9), following reported positive developments in talks aimed at preventing Iran from acquiring nuclear

According to the U.S. Commerce Department announced Tuesday, April trade deficit in goods and services declined 1.2% month-over-month to $55.9 billion, beating market expectations of $56.2 billion. Total exports rose 2.6% to a record high, led by a 60% surge in crude oil exports as Middle East

Israel and Iran paused direct military clashes on June 5, prompting West Texas Intermediate crude oil to drop below $90 a barrel on Tuesday. WTI crude traded around $89.13 a barrel, a more than 5% decline from the $95 level seen shortly after Israel launched retaliatory strikes on Iran. The pause

BP announced that Gordon Birrell will serve as head of Upstream as part of the company's strategic restructuring into two core business divisions. Richard Harding has been appointed interim head of Downstream, the company's other major operating

According to the International Air Transport Association (IATA), global airlines' profits are forecast to decline by 50% in 2026 due to a $100 billion surge in fuel costs. The organization warned that skyrocketing fuel prices will significantly compress the industry's profitability and operating

According to Guru Club, Brent crude oil broke below $92 per barrel on June 9, falling 2.43% intraday.

According to Guru Club, WTI crude oil futures fell 3% to $88.564 per barrel on June 9, while Brent crude futures declined 2.63% to $91.769 per barrel, as international oil prices continued their downward

According to market sources, Urals crude shipments scheduled for delivery to India in July and August are trading at a discount of $2–3 per barrel versus Brent crude.

Basf CEO warned that escalating inflation and potential supply chain disruptions from an Iran war pose risks to the automotive industry and broader economic outlook. The executive stated that shortages of raw materials are becoming more likely, potentially halting complex production chains

According to Guru Club, U.S. crude oil import price reached $78.24 per barrel in April, up 18.4% year-over-year from $66.06 per barrel in April 2025. The price also increased from $63.40 per barrel in March.

According to Jin10, WTI crude oil fell over 2% ahead of the night session on June 9, extending its decline in international oil markets.

Canada's exports reached 75.16 billion CAD in April, according to official data. The previous month's figure was revised upward from 72.77 billion CAD to 73.98 billion CAD.

Oxford Economics sees U.S. core inflation shifting from tariff pass-through to AI investment and energy supply shocks through 2026-27, marking a change in the primary drivers of domestic price pressures.

Eskom today launched Eskom Green, a dedicated renewable energy business designed to accelerate utility-scale renewable energy projects and support large power users in achieving decarbonization objectives. The new entity responds to research on over 20 global utilities, which indicates renewable pro

According to sources, the European Union will propose keeping the price cap on Russian oil at $44.10 per barrel unchanged for six months, while tightening restrictions on shadow fleet operations.

According to Kitco News, gold prices broke through critical support on Friday after the Bureau of Labor Statistics reported that 172,000 jobs were created in May, significantly exceeding expectations. Markets are now pricing in a nearly 50% probability of a rate hike as early as

According to Indian government officials, India's government provided approximately 1.2 trillion rupees in subsidies to state-owned oil retailers over the 78-day period following the outbreak of the Iran war, after the companies refrained from raising fuel retail