Commodities (Crude Oil & Copper) & Macro Outlook

According to the U.S. Energy Information Administration (EIA) on October 6, the agency raised its 2026 Brent crude oil price forecast to $96 per barrel from a prior estimate of $91 per barrel. The EIA also increased its 2027 Brent crude forecast to $84 per barrel from the previous projection of $74

President Donald Trump deferred federal excise taxes on red diesel road use through the end of the year, according to an October 6 report by Walter Bloomberg. The measure aims to ease the burden from elevated diesel prices. However, analysts at Ritterbusch and Associates noted the policy does not ad

According to Fonterra, the Global Dairy Trade (GDT) Price Index rose 1.2% on October 6. Whole milk powder contracts averaged $3,928 per ton in free-alongside-ship (FAS) auctions, while the wholesale milk powder price index also increased 1.2% to $3,605 per ton.

According to Jin10, Trump signed an executive order on October 6 allowing truck drivers to use red-dyed tax-exempt diesel fuel, which is typically reserved for specific purposes. However, analysts expect the measure will provide limited cost relief for U.S. farmers facing rising input expenses,

According to two sources, Russia's Volgograd refinery halted crude oil processing following a drone attack on October 2.

The U.S. Commodity Futures Trading Commission (CFTC) is hosting an anti-fraud webinar from 2 p.m. to 3 p.m. EDT, featuring expert panelists from the Securities and Exchange Commission (SEC), National Futures Association (NFA), and Financial Industry Regulatory Authority (FINRA). The initiative

According to Goldman Sachs, diesel prices are expected to remain elevated until 2027 as refining capacity constraints and government and corporate inventory rebuilding efforts persist. Nikhil Bhandari, co-head of Goldman Sachs' Asia-Pacific natural resources research, stated that product prices

According to EU Commission President Ursula von der Leyen, on October 6, the EU announced measures to address soaring energy costs following a 140% surge in natural gas prices and doubled diesel prices since late February. The price increases have added approximately 100 billion euros to import

US stocks opened higher on October 6 at 9:53 AM local time, with the Dow Jones Industrial Average rising 301.19 points (0.59%) to 51,569.09, the S&P 500 gaining 47.15 points (0.61%) to 7,821.10, and the Nasdaq Composite advancing 168.40 points (0.61%) to 27,645.71. The gains were driven by falling o

According to Guru Club, international crude oil futures declined for the third consecutive trading day on October 6, with market sentiment improving on Middle East export recovery prospects. Paul Brocado, CEO of BankPro, stated that confidence in near-term supply outlook is improving, suggesting oil

The CEO of the Syrian State Oil Company announced on October 6 that Syria will construct four new power plants by 2029, with a minimum daily natural gas requirement of 30 million cubic meters.

According to veteran investor Jim Paulsen, the S&P 500 faces mounting pressure from three factors—oil prices near $100 per barrel, U.S. Treasury yields at 5%, and a strengthening dollar—that have not yet fully impacted markets, despite the index closing near record highs on Monday. Paulsen cited

According to sources, the International Energy Agency (IEA) will decide on specific details regarding the release of oil and diesel reserves by the Group of Seven on October 14-15.

According to Guru Club, Brent crude oil fell 3% intraday on October 6, trading at $97.25 per barrel.

Iran stated on October 6 that the Strait of Hormuz will not reopen in response to external threats or pressure. The statement was reported by Walter Bloomberg, an overseas economic news alert channel. No further details on the specific Iranian official or triggering circumstances were provided in th

U.S. exports in August reached $315.2 billion, compared with $310.7 billion in July, representing a monthly increase of approximately 1.5%.

According to the CFTC, on October 5 the agency published its regulatory plan for crypto exchanges, introducing Regulation CTX and Regulation CAM and opening a 60-day public comment period once the proposal hits the Federal Register. The plan establishes a federal licensing framework with leverage a

Canada's exports reached 7.791 billion Canadian dollars in August, according to official statistics. The prior month figure was revised downward from 7.614 billion CAD to 7.603 billion CAD.

According to Guru Club, on October 6, Iran's top security official Reza'i stated that Iran will not open the Strait of Hormuz due to threats or pressure.