Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, Australia's federal government has committed 4 million Australian dollars to assess the feasibility of building a new refinery in Western Australia on July 29. The proposed facility would be the country's first major refinery built since the 1960s. Currently, Australia operates o

Eni CEO announced that the company's development plans for Venezuela's Perlá gas field will be unveiled soon. The statement marks continued progress on the Italian oil major's operations in the South American

Italian oil company Eni completed maintenance work at all of its refineries during the first half of 2026.

Italy's oil company Eni will run its refineries at maximum capacity during the third quarter, according to the company's statement. The move comes as global oil demand remains strong in the summer months.

According to Guru Club, on July 29, oil futures touched intraday highs after Trump commented on Iran. Following the statement, the S&P 500 index futures and Nasdaq 100 index futures turned negative.

According to a CME announcement, the Chicago Mercantile Exchange plans to launch futures and options contracts linked to professional and college sports events. The company is partnering with index provider FutureSports to develop the underlying indices. The contracts will be cash-settled with

Iran's Islamic Revolutionary Guard Corps fired ballistic missiles at a U.S. base near Jordan's Muwaffaq Salti Air Base at 5:45 p.m. ET on July 28, all intercepted by Patriot systems with no casualties, U.S. Central Command said. Iran claimed retaliation for U.S. actions against its interests. The st

According to CENTCOM, Iran's Islamic Revolutionary Guard Corps launched multiple ballistic missiles at a U.S. military position near Jordan's Muwaffaq Salti Air Base on July 28 at 5:45 p.m. ET. The command confirmed all incoming missiles were intercepted by Patriot air-defense batteries, with no

According to Jin10, WTI crude oil surged 5% to $82.24 per barrel intraday on July 29, while Brent crude oil rose 4.6% on the day.

Gate News: According to the latest Gate TradFi data, XTIUSD (WTI Crude USOIL) has surged by 6% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

WTI crude oil rose 5% intraday to $83.25 per barrel on July 29. Brent crude oil climbed nearly 5% to $85.88 per barrel during the same session.

According to Iranian military official cited by Fars News, Iran's military announced on July 29 that the Strait of Hormuz remains completely closed to all vessels. Any ships attempting to pass through, particularly those ignoring warnings, will face swift and decisive

According to Jin10, New Zealand's government approved a 12-year offshore oil and gas exploration license in the Taranaki Basin on July 29, marking the first permit granted since lifting its ban on new fossil fuel exploration last year. Resource Minister Shane Jones called the decision an

Brent and WTI crude oil prices rose more than 3% on Wednesday as U.S.-Iran tensions renewed supply disruption concerns across the Middle East. Brent crude futures climbed $2.70, or 3.2%, to $86.79 a barrel, while West Texas Intermediate futures gained $2.65, or 3.3%, to $81.91 as of 6:45 a.m. GMT. T

According to Reuters, Yemen's Houthi militants are considering imposing fees on commercial vessels transiting through the southern Red Sea, as reported on July 29. The move comes after the group announced a maritime embargo against Saudi Arabia on July 20, expanding attacks on oil tankers beyond the

According to market data, Brent crude futures rose 3.2% to $86.79 per barrel and WTI gained 3.3% to $81.91 as of 6:45 a.m. GMT on Wednesday, reversing part of Tuesday's decline as renewed U.S.-Iran tensions sparked renewed concerns over Middle East supply disruptions. The rally followed U.S.

According to two sources, Russia is preparing to extend its diesel export ban through August, though the ban could be lifted earlier if domestic supply conditions improve.