Commodities (Crude Oil & Copper) & Macro Outlook

According to EIA data, U.S. crude oil production demand for the week ending October 23 reached 20.636 million barrels per day, up from 19.464 million barrels per day the previous week.

According to EIA data, U.S. distillate fuel oil implied demand rose to 5.53 million barrels per day for the week ended October 23, up from 5.11 million barrels per day in the prior week.

According to EIA data released for the week of Oct 23, U.S. crude oil exports increased 1.412 million barrels per day to 4.854 million barrels per day. Domestic crude oil production rose 723,000 barrels to 13.992 million barrels per day, while commercial crude oil inventories excluding strategic

According to the U.S. Energy Information Administration (EIA), gasoline inventories for the week ended October 23 increased by 3.87 million barrels, contrary to expectations of a 310,000-barrel decline and the previous week's 2.952-million-barrel

According to EIA data, U.S. refinery crude oil production fell 71,000 barrels per day in the week ending October 23, compared with an increase of 43,000 barrels per day in the previous week.

U.S. gasoline production declined 509,000 barrels per day for the week ending October 23, according to EIA data, compared to the previous week's output of 518,000 barrels per day.

According to EIA, U.S. refinery capacity utilization fell 0.6% for the week of October 23, missing expectations of no change and compared to the previous week's decline of 0.1%.

According to the U.S. Energy Information Administration (EIA), crude oil inventories declined by 1.89 million barrels last week. Bloomberg users had expected a decline of 994,000 barrels, while analysts had forecast an increase of 81,170 barrels.

According to EIA data, U.S. refinery oil inventories fell 1.462 million barrels for the week ending October 23, exceeding the expected decline of 880,000 barrels and reversing the previous week's increase of 1.675 million barrels.

According to the U.S. Energy Information Administration (EIA), heating oil inventory fell to 164,000 barrels for the week ended October 23, down sharply from 652,000 barrels in the prior week.

According to EIA data, U.S. Strategic Petroleum Reserve inventory fell by 100,000 barrels for the week ending October 23, compared to a decline of 300,000 barrels in the previous week.

According to the U.S. Energy Information Administration (EIA), U.S. crude oil production fell 123,000 barrels per day for the week ending October 23, compared with a gain of 34,000 barrels per day in the previous week.

According to the U.S. Energy Information Administration, refined oil imports for the week ended October 23 declined to -6.2 thousand barrels per day, compared to -14.5 thousand barrels per day in the prior week.

According to EIA data, reformulated gasoline inventories declined by 3,000 barrels for the week ended October 23, compared to a decrease of 2,000 barrels in the prior week.

According to EIA data, U.S. crude oil imports fell to -796,000 barrels for the week ending October 23, down from 837,000 barrels in the prior week.

According to the U.S. Energy Information Administration, Cushing crude oil inventories declined by 624,000 barrels in the week of October 23, compared to a prior increase of 987,000 barrels in the previous week.

According to Reuters, Russia has issued permission for grain-export ships carrying export cargo to depart the Sea of Azov on October 28, marking the first such departures since the region closed on July 10 following Ukrainian drone attacks. The vessels are authorized to transit through the Kerch

Fuel oil futures main contract surged 4.00% intraday on October 28, trading at 5,518 yuan per ton.

Russian oil company Rosneft will consider dividend distribution matters on November 6.

ADNOC, the Abu Dhabi National Oil Company, recently notified its customers that a new pipeline bypassing the Hormuz Strait will commence operations in early 2027. The infrastructure project is designed to provide an alternative route for oil transport, reducing dependency on the strategic