Commodities (Crude Oil & Copper) & Macro Outlook

The US dollar strengthened against major currencies on October 7, with the dollar index (DXY) rising 0.418% to 102.275 by 4pm Eastern Time, driven primarily by euro weakness amid bond market turmoil in France and the United Kingdom. European government bonds faced selling pressure as investors

According to U.S. Central Command, on October 8, the command refuted an Iranian Revolutionary Guards general's claim that the Strait of Hormuz had been closed and was under complete Iranian control. The Pentagon stated that commercial cargo and energy supplies continue to transit the strait

WTI crude oil futures opened 0.8% higher during the Asia-Pacific morning session on October 7, supported by reports of Iran-related attacks and an active Atlantic storm system threatening U.S. Gulf production

According to Jin10 Data on October 8, tanker captains operating in the Strait of Hormuz amid Iranian threats employ covert navigation measures to mitigate risks. Vessels disable automatic identification systems (AIS) transponders, operate without lights or mobile phones, and use only radar for navig

Democrats are accounting for a larger share of mail-ballot requests in several U.S. states as early voting expands ahead of midterm elections, according to reports published October 7. More than 1 million people had already cast ballots across 30 states as of October 6, the Associated Press and

International oil prices declined on October 7 as the International Energy Agency (IEA) announced member governments would accelerate the release of strategic petroleum reserves initially announced in March 2026, with readiness for additional releases if needed. The November delivery West Texas Inte

According to the International Energy Agency, crude oil prices declined on Oct 7 (U.S. Eastern time) as the IEA accelerated the pace of strategic petroleum reserve releases and signaled readiness for additional releases if needed. WTI crude for November delivery closed at $88.28 per barrel,

Kalshi submitted a proposal to the US Commodity Futures Trading Commission on October 7 for perpetual futures contracts based on West Texas Intermediate crude oil prices. The CFTC must decide within 45 days whether to approve the product. If approved, the contract would be the first crude-linked per

Mike Selig, chairman of the U.S. Commodity Futures Trading Commission, said on October 7 that digital assets will be subject to the same margin models and risk-management standards used in traditional derivatives markets. The CFTC will use established margin models and control frameworks from

On Wednesday (October 7), spot gold fell 1.33% to $4,108.72 per ounce, declining throughout Asian and U.S. trading sessions. The metal briefly dipped to a daily low of $4,066.59 around 20:51 Beijing time. Spot silver declined 2.53% to $59.79 per ounce, while COMEX copper futures fell 0.19% to $6.64

French Prime Minister Sebastian Lecornu announced today that the government will release 10 million barrels of diesel from strategic reserves over the next three months to lower fuel pump prices by an estimated 12 to 18 euro cents, and committed to controlling electricity rates to ease the cost-of-l

According to Youssef Kibwani, CEO of the Syrian National Oil Company, the country plans to double its crude oil output within a year, with production increasing from approximately 110,000 barrels per day to around 250,000 barrels per day by the end of 2027. The expansion will be driven by renewed in

The UK Maritime Trade Operations (UKMTO) received a report today of an incident 51 nautical miles north of Madinat Ash Shamal, Qatar. A tanker reported being struck by multiple shells, with casualties confirmed.

According to the U.S. Offshore Energy Management Agency (MMA), as of today, approximately 25.08% of oil production and 16.37% of natural gas production in the Gulf of Mexico have been halted.

According to the U.S. Bureau of Ocean Energy Management (BOEM), approximately 25.08% of oil production and 16.37% of natural gas production in the Gulf of Mexico have been shut down today.

On Wednesday, Indonesian Mining Minister Bahlil Lahadalia announced his government is considering suspending the construction of new facilities producing nickel intermediate products to prop up nickel prices. Lahadalia attributed the move to oversupply of nickel intermediates causing price

Kalshi has submitted a perpetual-style crude oil futures contract proposal linked to West Texas Intermediate (WTI) crude to the U.S. Commodity Futures Trading Commission. The contract expires once every ten years and uses a perpetual futures structure that never truly expires, commonly known as perp

On Wednesday (Oct 7), at New York close, the Bloomberg Grain Index fell 1.34% to 33.2373 points, extending its downtrend. CBOT corn futures declined 1.18%, wheat futures fell 2.50%, and soybean futures

EPA Administrator Zeldin announced plans to release a new oil and gas proposal in the coming days. No further details about the proposal's content have been disclosed.

According to ChainCatcher, on October 7, U.S. President Trump stated that Iran will be completely destroyed and the situation will resolve quickly, with oil prices expected to plummet as a result.