Commodities (Crude Oil & Copper) & Macro Outlook

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.

According to Reuters data, Dubai spot crude oil's discount to swaps widened beyond $4 per barrel on July 2, the largest discount since May 2020.

According to the UK Office for National Statistics, as of late June 2026, 64% of UK businesses expressed concerns about energy prices, remaining stable compared to early June. Meanwhile, 68% of enterprises cited concerns about fuel prices, down 2 percentage points from the previous two-week

According to Jin10, Hanghua Stock announced an unusual trading notice on July 1-2, with the stock rising over 30% in cumulative gains across the two trading days. The company attributed the volatile trading to upstream raw material cost increases driven by crude oil price fluctuations in the first h

According to Bloomberg, as of July 1, Iran's offshore crude oil and condensate inventory exceeded 58 million barrels, with over 90% remaining unsold. Buyers have adopted a cautious stance due to unresolved Western sanctions, unclear payment mechanisms, and weak Asian demand. Multiple tankers are on

Taiwan's Economic Minister Kung Ming-hsin announced on July 2 that the Geological and Mining Center plans to visit California and Colorado in October to survey rare earth mineral sources and attend local seminars. According to Kung, if the mineral sources meet industry requirements after

According to Singapore's Economic Development Board (EDB), light distillate oil inventories fell by 665,000 barrels for the week ending July 1, dropping to a two-week low of 12.7 million barrels.

According to Singapore Economic Development Board (ESG), as of the week ending July 1, Singapore fuel oil inventories declined by 648,000 barrels to 19.654 million barrels, marking a two-week low.

According to Singapore's Economic Development Board (EDB), Singapore's middle distillates stockpile fell by 420,000 barrels to 8.099 million barrels, reaching a three-week low, for the week ending July 1.

According to Yonhapnews, Ukrainian drone attacks on Russian refineries have caused widespread fuel shortages across Russia, with gas stations implementing sales restrictions and facing long queues on July 2. Citizens reported waiting hours without securing fuel, with some stations limiting

According to UBS, recent negotiations between the United States and Iran, marked by a signed memorandum of understanding, coupled with increased oil flows through the Strait of Hormuz, have prompted the bank to lower its near-term oil price

According to Bitget data, Brent crude oil declined 1.00% intraday on July 2, trading at $70.54 per barrel and reaching its lowest level since late February.

According to China's Foreign Ministry spokesperson Guo Jiakun, the government responded yesterday to reports that Chinese citizens have been taken measures against for suspected violations of rare earth export regulations. Guo stated that China handles cases in accordance with law and regulations, a

According to MoneyDJ, on July 2, South Africa's Steenkampskraal Monazite Mine announced the resumption of high-purity mixed rare earth production, becoming Africa's first facility with this capability. The mine holds reserves valued at approximately $2 billion (330 billion South African rand). The f

According to Jin10 Data, Chinese Commerce Ministry spokesperson He Yadong responded on July 2 to questions about reducing tariffs on U.S. agricultural products during a regular press briefing. The ministry stated that agricultural trade is an important part of China-U.S. economic and trade