Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 Futures, over the past week as of July 7, Shandong independent refineries' gasoline production-sales ratio rose to 92%, up 2 percentage points from the previous week, while diesel production-sales ratio climbed to 103%, also up 2 percentage points. The increase followed earlier de

According to South Korea's Fair Trade Commission, the regulator imposed corrective orders and fines totaling approximately 747.6 billion won (roughly $560 million USD equivalent) on July 7 against four starch manufacturers—Daisho, Sacho CPK, Samyang Foods, and CJ CheilJedang—for a price-fixing

According to Reuters, on July 6, Ukrainian forces struck Russia's largest oil refinery in Omsk with drones from approximately 2,700 km away. Reuters assessed the attack as one of Ukraine's longest-range strikes since the war began. In response, Russia conducted a massive overnight assault on Kyiv u

The European Union faces strategic pressure from China's control over rare earth supply chains critical to electric vehicles, defense industries, wind power, semiconductors, batteries, and advanced manufacturing. Reuters Breakingviews stated the EU can resist China's economic pressure, but only if i

According to Guru Club, China's domestic commodity futures showed mixed performance in early session trading on July 7. Container shipping EU route (集运欧线) fell over 5%, the steepest decline of the session. Among gainers, liquefied petroleum gas (LPG) rose over 2%, while vegetable oil and

According to Jin10 Futures, over the weekend on July 7, OPEC+ decided to continue production increases, marking multiple expansion decisions within the past six months. The strong production increase intent from Saudi Arabia, despite near-term constraints from Strait shipping disruptions, is

According to official statements, ADNOC and INPEX signed a 15-year liquefied natural gas purchase agreement on July 7, with ADNOC supplying 1 million tons annually from the Ruwais project. The long-term orders represent over 90% of the project's total production capacity, with approximately 23%

According to Guru Club, BHP received approval today (July 7) to launch a $15 billion copper mine expansion project in Chile.

Central banks face shifting monetary policy outlooks as international oil prices returned to pre-US-Iran war levels. WTI crude futures fell below $70 per barrel, nearing the February 27 closing price of $67.02, while Brent crude dropped to $70 in early July from over $126, falling below the late-Feb

According to Yonhapinfomax, WTI crude oil futures fell below $70 per barrel following the US-Iran ceasefire memorandum signed in mid-June, down from nearly $120 in late February. Brent oil similarly dropped to $70, approaching pre-war levels. Market expectations for Fed rate increases have

Brent crude oil prices rose 1.00% during intraday trading on July 7, reaching $72.79 per barrel.

WTI crude futures gained 1.00% intraday, trading at $69.24 per barrel on July 7.

The Shipping Index (Europe Route) main contract fell over 6% during intraday trading on July 7, currently trading at 2421.0 points.

Neuberger Berman Chief Investment Officer Ashok Bhatia forecasts the Federal Reserve will maintain rates frozen rather than hiking or cutting, describing this as a 40% probability baseline scenario in a report released on the 6th (local time). The forecast stems from expectations of US

According to E Daily, OPEC faces an existential crisis as member states engage in production competition following the recent reopening of the Strait of Hormuz. Saudi Arabia, the bloc's leading producer, has sharply reduced prices for its flagship crude, causing international oil prices to decline a

Oxford Economics (OE) identified the sustainability of the US-Iran peace agreement as the pivotal factor for the global economy in the second half, according to a report released on 6일 (local time). The institution stated that whether the peace agreement continues will determine if other risk factor

According to Oxford Economics, released on July 6, the continuity of a U.S.-Iran peace agreement will determine whether key global economic risks amplify or ease in the second half of 2026. The firm identified three major headwinds: Middle East tensions, artificial intelligence supply chain

Japanese government bonds experienced severe selling pressure on July 6, with the 10-year yield surging to 2.830% intraday — the highest level since October 1996. The spike followed Prime Minister Takaichi Sanae's announcement of an annual 10 trillion yen

According to Guru Club, China commodity futures surged in early trading on July 7. Stainless steel jumped over 2%, while liquefied gas and soybean meal rallied over 1%. Nickel and tin also posted modest gains. Shipping costs on the Europe route fell over 3%, leading declines. Glass and palladium

BMO diagnosed that financial markets have exited the so-called 'Goldilocks' phase based on low inflation and solid growth, entering a new investment environment driven by high interest rates, persistent inflation pressures, and tight liquidity conditions. Mark McCormick, BMO's head of foreign