Commodities (Crude Oil & Copper) & Macro Outlook

Taiwan's Ministry of Economic Affairs rare earth exploration team confirmed in October departure to the United States, targeting Colorado and California. Minister Kung Ming-hsin announced the trip aims to establish local ore quality assessment databases and contact potential mining company

According to Taiwan's Economic Minister Gong Mingxin, the nation's rare earth delegation is set to depart in October to assess rare earth mining resources in California and Colorado. The mission aims to establish a database of local mineral deposits and explore partnerships with mining companies. Ta

According to Jin10 data, crude oil futures rose slightly on July 2. West Texas Intermediate (WTI) crude for August delivery gained 11 cents to close at $68.69 per barrel, up 0.16%, while Brent crude for September delivery advanced 23 cents to $71.80 per barrel, up 0.32%.

British Columbia announced an agreement with the federal government on July 2 to maintain a tanker ban on Canada's northwest coast. The accord also opens the door to Alberta's new crude oil pipeline project, contingent on an alternative route. The pipeline project aims to transport 1 million

According to Jin10 Data, on July 3, sources told energy intelligence reporter Amena Bakr that Saudi Arabia's average daily crude oil and refined product exports are approximately 5.8 million barrels per day, not the 6.3 million barrels per day previously reported. The higher figures included

On Thursday, July 2, the Bloomberg Commodity Price Index edged up 0.04% to 29.5199 points, with the index reaching an intraday high of 29.7725 points before retreating. CBOT corn futures declined 0.34% to $4.4075 per bushel, while soybeans fell 0.22% to $11.4675 per bushel. CBOT wheat futures

According to Citigroup, aluminum prices are expected to touch bottom within the next month and rally to $3,300–$3,500 per ton between September and December, driven by dovish Federal Reserve policy, declining real rates, and improved demand outlook. Aluminum prices have fallen approximately 20%

WTI August crude oil futures closed 0.11 dollars higher at 68.69 dollars per barrel on July 1, representing a 0.16% gain. NYMEX August natural gas futures settled at 3.1960 dollars per million BTU, while August gasoline futures closed at 2.9173 dollars per gallon and August heating oil futures at 3.

Shanghai Futures Exchange crude oil futures (September 2026 contract) closed overnight up 0.05% at 441.80 yuan per barrel. Shanghai gold futures rose 1.18% overnight, while Shanghai silver gained 1.53%.

Brazil's Planning Minister announced this month that the country may cancel its oil export tax or reduce it below 12 percent.

According to Al Jazeera, Iran's actual control over the Strait of Hormuz has strengthened following recent conflict, despite U.S. efforts to restore normal shipping, a King's College London security analyst said on July 3. Rob Guest-Pinford noted that daily shipping traffic remains significantly

U.S. total active drilling rigs rose to 580 for the week ending July 3, up from 573 a week prior, according to U.S. energy data.

The number of U.S. natural gas drilling rigs in the week of July 3 rose to 126, up from 125 in the prior week.

According to Baker Hughes, U.S. energy companies' drilling rigs increased for three consecutive weeks, signaling renewed activity in the American energy sector.

The United States oil rig count reached 445 in the week of July 3, rising by 5 from the previous week's 440, according to weekly energy sector data. The increase reflects continued activity in U.S. crude oil drilling

Gate News: According to the latest Gate TradFi data, COFFEE (Coffee) has dropped by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Russia's Central Bank Governor Elvira Nabilulina stated that the central bank will address the fuel shortage issue during its July committee meeting, according to her remarks.

According to Jin10, Russia's gasoline shortage is affecting Central Asian countries as of July 2, with about 90% of Russian regions experiencing fuel rationing or supply disruptions as of late June. Kyrgyzstan appealed to regional partners including Kazakhstan, Azerbaijan, and Turkmenistan this

According to market sources, on July 2, WTI crude oil near-month spread turned to futures premium for the first time since November 2024.

According to market reports, Poland's Swinoujscie LNG Terminal restricted Berth 2 operations on July 2 following an unplanned incident.