Commodities (Crude Oil & Copper) & Macro Outlook

According to Brazil's trade executive committee (Gecex), the government maintained a 12% crude oil export tax for an additional 60 days on Thursday (July 9). The committee stated it will reassess the measure within 30 days. The tax was initially introduced in March in response to rising crude

WTI crude oil fell 4.00% intraday today, trading at $71.54 per barrel. Brent crude declined 3.75% to touch $76 per barrel during the session.

US stocks opened higher on July 9 (local time), with the three major indices advancing on strong semiconductor stock performance at 9:51 AM. The Dow Jones Industrial Average rose 0.05% to 52,372.89, the S&P 500 gained 0.31% to 7,506.06, and the Nasdaq Composite climbed 0.48% to 25,994.79.

According to Iran's Islamic Revolutionary Guard Corps, the military has established control over the Strait of Hormuz over the past two weeks and is now progressively reopening shipping lanes. The guard stated that it has maintained security in the waterway and is restoring transit capacity to

According to Jin10 Futures, as of July 9 this week, float glass production showed mixed results across fuel types. Petroleum coke-fired float glass posted average weekly losses of 190.33 yuan/ton, down 1.22% week-over-week. Natural gas-fired production saw average losses narrow to 173.80 yuan/ton, u

According to TankerTrackers, Iran shipped at least 10 million barrels of crude oil and fuel overnight as the country anticipated a potential U.S. resumption of maritime sanctions.

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Bitcoin and Ethereum recovered most losses within hours after Iran-related geopolitical headlines triggered brief market selloff on July 9. Initial reports sparked risk-off trading as oil climbed and crypto prices dropped, but markets reversed course after subsequent reports indicated Iran's

According to market reports, Iraq and HKN Energy signed an agreement on July 9 to develop the Hamrin oil field. The project targets production capacity of 140,000 barrels per day and daily natural gas output of 40 million cubic

According to BlockBeats, U.S. stock index futures edged higher on July 9 amid escalating U.S.-Iran tensions and rising oil prices. S&P 500 futures rose 0.2%, Nasdaq-100 futures climbed 0.61%, and WTI crude oil futures gained nearly 1% following a reported U.S. strike on Iran in response to attacks n

According to BlockBeats, on July 9, a new round of U.S.-Iran military clashes broke out, blocking Trump's attempts to exit the conflict. The ceasefire agreement remains fragile amid escalating tensions over Hormuz Strait control, while oil prices continued to rise. A Reuters-Ipsos poll released on t

According to Jin10, BP Chief Executive Meg O'Neill said on July 9 that safety remains the company's foremost priority, emphasizing daily operations must be secure, reliable, and cost-effective. O'Neill outlined three key priorities: prioritizing safety, implementing clearer accountability, and

Commodity mining ETFs recorded double-digit losses over the recent 3 months as raw material prices halted their surge and profit-taking sales emerged. Gold mining ETF GDMN fell -28.46% during this period, while silver mining ETFs SLVP and SILJ declined -16.42% and -17.22% respectively. The

According to Seoul Economy, commodity mining exchange-traded funds that topped global ETF returns from late 2025 through early 2026 have posted sharp declines over the past three months. Gold mining strategy ETF GDMN fell 28.46% in the three-month period through July 7, while gold-focused GOEX

According to S&P Global Market Intelligence data, the iTraxx Europe Crossover index for euro-denominated high-yield credit default swap spreads fell 5 basis points to 246 basis points on July 9, as declining oil prices improved risk sentiment. The decline in default protection costs reflects

According to a report by Yide Futures on July 9, crude oil exports from the Hormuz Strait remain at 40-60 percent of pre-conflict levels, falling short of the normal recovery threshold of 70 percent. The supply disruption has strained global refined product supplies, with refineries in the Middle

Iran attacked three energy vessels in the Hormuz Strait on the 7th (local time), and the US immediately revoked Iranian oil sales licenses and resumed strikes on the 8th (local time). WTI crude reached $76.08 per barrel on the 8th, the highest since May 22, while Brent exceeded $80 and the US

According to its H1 2026 earnings forecast, Zhengbang Technology expects a net loss of 700–800 million yuan in the first half, compared to a profit of 200 million yuan in the same period last year. The company attributed the sharp turnaround to volatile hog market conditions, with commercial pork pr

According to BlockBeats, ExxonMobil and Chevron's Q2 net profits are projected to reach $15 billion and $9.7 billion respectively, totaling approximately $24.7 billion on July 9, each more than tripling from the previous quarter amid Middle East tensions and rising energy prices. Refining firms