Commodities (Crude Oil & Copper) & Macro Outlook

WTI crude oil declined over 1% intraday on July 6, trading at $68.40 per barrel.

According to an announcement on July 6, Korea National Oil Corporation successfully imported 970,000 barrels of crude oil shipped from UAE's Fujairah port in early June and delivered it to GS Caltex. The company also received 575,000 barrels produced by Canada's Harvest Oil, which was shipped from

According to Goldman Sachs, the investment bank lowered its Q4 2026 LME aluminum price forecast to $2,950 per ton and cut its 2027 average price target to $2,700 per ton today. The bank also reduced its 2026 aluminum supply-demand deficit forecast to 100,000 tons while raising its projected 2027

According to Shanghai Futures Exchange (SHFE), on July 6, pulp warehouse inventories rose to 286,167 tons, up 7,474 tons from the previous trading day, while petroleum bitumen factory inventories declined 2,000 tons to 15,970 tons. Other energy and chemical products remained

The Capesize Container Shipping Index (Europe route) main contract fell 5.00% intraday on July 6, currently trading at 2,525.5 points.

According to Reuters, three Japanese firms are considering purchasing Iranian crude oil on July 6, marking the first such move since 2019, following a temporary U.S. sanctions waiver. Japanese and Iranian officials are reportedly conducting initial negotiations regarding the possibility of crude oil

According to Jin10, OPEC+ decided to increase oil production by 188,000 barrels per day in August. The decision comes as supply dynamics shift across major producing regions, with Iraq reporting June crude exports of approximately 24.5 million barrels and Brazil exporting 8.48 million tons of crude

According to CoinDesk, on July 6, veteran trader Peter Brandt stated he is considering selling part of his Bitcoin holdings and buying gold, expecting the ratio of gold to Bitcoin to rise significantly. Brandt cited a chart pattern suggesting the downtrend of gold relative to Bitcoin over the past d

According to Nomura Securities' latest research, as cited by Serenity on July 6, upstream photonic material prices for AI optical interconnects are expected to rise significantly due to supply-demand imbalance. InP (indium phosphide) substrates are projected to see price increases of 42%-76% for 2-i

Energy Secretary Sharon Garin announced on July 6 permitted fuel price adjustments for the week of July 7 to 13, with diesel increasing P1.57 to P3.57 per liter, kerosene rising P1.70 to P3.70 per liter, and gasoline ranging from a decrease of P1.75 per liter to an increase of up to 25 centavos per

According to Energy Secretary Sharon Garin, fuel prices in the Philippines will increase starting July 7, with diesel rising by P1.57 to P3.57 per liter and kerosene by P1.70 to P3.70 per liter. Gasoline could decrease by up to P1.75 per liter or increase by up to P0.25 per liter. The adjustment

Regional authorities reported that infrastructure at Russia's Ust-Luga and Vysotsk oil port facilities sustained damage following a drone strike. Local governor statements confirmed the incidents at both strategic Black Sea and Baltic petroleum

Seoul Central District Prosecutors' Office indicted HD Hyundai Oilbank and two pricing department employees for violating fair trade laws through coordinated gasoline price increases with SK Energy, following collusion that began in July 2024. The indictment stems from prosecutors' findings that

ADNOC announced today that ADNOC TRADING will continue to serve as the trading counterparty for trading activities, with existing client engagement arrangements remaining unchanged.

PetroVietnam Gas signed a liquefied natural gas (LNG) supply contract with Shell Trading East & Overseas Company, covering the 2027-2031 period.

According to Bloomberg, South Korean mid-sized shipping company Sinoco has leased very large crude carriers (VLCCs) to Abu Dhabi National Oil Company (ADNOC) since mid-April, generating an estimated 180 billion Korean won in revenue amid the ongoing volatility surrounding the Strait of

According to Yonhap Infomax, crude oil prices declined on July 6 as shipping operations resumed through the Strait of Hormuz and OPEC+ announced a production increase starting in August. August WTI fell 0.39% to $68.42 per barrel, while September Brent crude declined 0.55% to $71.72 per barrel as of

US stock futures climbed late Sunday after the Independence Day break, with Nasdaq 100 futures jumping 1.33%, S&P 500 futures rising 0.53%, and Dow futures up 0.15% at 8:11 PM EDT. The gains extended the previous week's rally as investors await the Federal Reserve's June meeting minutes due

According to Jin10 and Mysteel research, Mongolia's three major border ports will shut down for five days (July 11-15) during the traditional Naadam Festival, reopening on July 16. As some Mongolian drivers have taken early leave, Ganqimaodu port's vehicle throughput is expected to decline

Wood Mackenzie forecasts US natural gas prices will rise through 2035, ending a decade of low-cost supply driven by the AI boom and expanding LNG exports. The energy consultancy stated that AI data center construction and US LNG export infrastructure expansion will support strong demand. For 10