Commodities (Crude Oil & Copper) & Macro Outlook

Weekly U.S. API crude oil inventory data for the week ending October 2 is set to be released shortly.

On October 6, soybean-focused ETFs surged 1.5%, with agricultural commodity ETFs gaining 1.37%, leading major U.S. asset classes. Real estate, oil, and gold ETFs rose at least 0.7%. In contrast, yen-focused ETFs fell 0.16%, dollar index instruments dropped 0.31%, emerging market ETFs

According to Jin10, crude oil futures rose on October 7. WTI November futures gained 1 cent to settle at $89.44 per barrel, up 0.01%; Brent December futures rose 26 cents to $100.58 per barrel, up 0.26%.

According to Brazil's Association of Grain Exporters (ANEC), the country is projected to export 6.18 million tons of soybeans in October, down from 6.4 million tons in the same month last year. Soybean meal exports are forecasted at 2.09 million tons, up from 1.73 million tons year-over-year. Corn e

Commercial vessels transiting the Strait of Hormuz and surrounding waters have come under attack over the past month, with about 20 ships reportedly targeted. Crypto-focused outlet Cointelegraph reported on Oct. 6 that at least seven tanker-related attacks occurred in the past week alone,

According to U.S. President Trump, Iran's Oil Minister resigned today. Trump quoted the minister as saying: "We (Iran) have no economy, no oil, we have nothing."

According to Bloomberg commodity data, on October 6, Chicago Board of Trade (CBOT) corn futures surged 2.26% to $5.0850 per bushel, while soybean meal futures jumped 2.39%. The Bloomberg Grain Sub-Index climbed 1.90% to 33.6875, extending gains since 14:00 Beijing time. Markets also saw strength in

WTI November crude oil futures closed at $89.44 per barrel today (October 6). NYMEX November natural gas futures settled at $3.1140 per million British thermal units, while November gasoline futures closed at $3.2732 per gallon and November heating oil at $4.5694 per gallon. Abu Dhabi Murban crude

According to Jin10 Data, an oil tanker caught fire in the Black Sea off the coast of Sochi on October 6, according to Dmitry Plishkin, head of Sochi's federal administration. To ensure public safety, local beaches have been temporarily closed. Authorities are monitoring water and air conditions in t

According to Financial Times, Exxon Mobil is seeking to advance oil and gas projects offshore Trinidad and Tobago by mid-2027. The company's vice president of global exploration stated the firm will decide where to drill its first well in the region before mid-2027.

According to Brazil's Trade Ministry, the country has lowered its 2026 export forecast to $382.5 billion from a previous projection of $394.4 billion, representing a downward revision of $11.9 billion.

According to Brazilian government data, Brazil exported 11.69 million tons of crude oil in September, up 42% year-over-year from 8.22 million tons in September 2025.

According to Brazil's Trade Ministry, the country recorded exports of $34.418 billion and imports of $26.678 billion in September, resulting in a trade surplus of approximately $7.54 billion for the month.

According to state media CCTV, amid US-Israeli military operations against Iran, shipping in the Strait of Hormuz faces severe disruption, triggering international oil price volatility and fuel shortages across parts of Europe. Supernova International Transport Ltd., a Budapest-based logistics

Chile's state-owned copper company Codelco announced that it is investigating evidence of overproduction during 2024-25. The board has been informed of preliminary findings related to possible duplicate accounting in production records and inventory discrepancies. Codelco has submitted its findings

According to Gate data, Brent crude oil (XBRUSD) rebounded to $104 per barrel as of today (October 6), trading at $104.00, with a 24-hour decline of 0.8%.

According to IIR Energy, Saudi Arabia's Jazan refinery is expected to resume operations in November following maintenance. The Samref refinery, located near Yanbu on the Red Sea coast, has reduced operational capacity due to damage to the east-west

The International Energy Agency (IEA) will meet on Wednesday to discuss the potential release of diesel and crude oil stocks.