Commodities (Crude Oil & Copper) & Macro Outlook

According to Goldman Sachs on October 6, diesel prices will likely remain elevated through 2027 due to limited refining capacity and the need for governments and enterprises to rebuild depleted inventories. The bank forecasts that global diesel and jet fuel crack spreads (product premiums relative t

According to Jin10, Shell CEO Waël Sawan said on Tuesday the company's competitive advantage in Venezuela lies in natural gas rather than heavy oil, and the company will continue seeking other opportunities in the country. Venezuela signed five agreements with Shell in June to advance oil and gas

According to the CEO of Vitol Energy Group, over the past 7 to 10 days, daily crude oil exports from the Middle East averaged 12 million barrels, with refined product exports reaching 2 million barrels per day.

According to EU officials, the European Union will hold a meeting of its oil coordination group on Wednesday, October 7.

According to Saudi Arabia's Energy Minister, the East-West Pipeline was recently attacked and is expected to resume operations within 5-6 days. The pipeline, a key component of Saudi Arabia's oil export infrastructure, experienced disruption but no further details on the attack or damage

According to Guru Club, WTI crude oil futures fell 2% to $87.64 per barrel on October 6. Brent crude futures declined 1.48% to $98.835 per barrel.

A Vietnamese Finance Ministry official stated that the government will maintain its inflation target of 4.5% for 2026, despite rising fuel prices.

Saudi Arabia set its November crude oil Official Selling Price (OSP) for Asia exports at -$5 per barrel, a $3 reduction from the prior month and the lowest level since June 2020. The move aims to reclaim market share lost during the Hormuz Strait disruption, when Asian refiners shifted to US and

According to recent reports, Saudi Arabia set its official selling price (OSP) for November Asian crude oil exports at -5 per barrel on October 6, marking a 3 dollar drop from the previous month and the steepest discount since June 2020. The negative pricing reflects Saudi's strategy to reclaim mark

According to Yonhapinfomax, on October 6, South Korea's Deputy Prime Minister Lee Hyung-il attended a parliamentary inspection hearing where lawmakers from both ruling and opposition parties raised sharp concerns over investment initiatives and financial policy failures. Ruling party lawmaker Im

According to a Deutsche Bank Futures research report dated October 6, Gulf crude oil exports increased in September, with output exceeding pre-war levels on roughly half of the month's trading days. However, geopolitical tensions continue to escalate supply risks. Houthi attacks on Saudi

Brent crude oil dropped over 1% intraday to $98.45 per barrel, while WTI crude fell 1.25% to $87.32 per barrel.

Chevron's Chief Executive Officer stated on October 6 that negotiations with the Iraqi government regarding the West Qurna project will require several more months to complete.

According to the UK National Energy System Operator (NESO), reported by Jin10, the grid faces a potential 1.9 billion watt power supply deficit on Tuesday (Oct 6) afternoon from 3 p.m. to 11 p.m. London time. NESO cited a sharp decline in wind generation overnight as the primary driver, with the

ECB chief economist Philip Lane said on October 6 that the eurozone has not seen strong second-round inflation effects from elevated energy costs so far. Lane stated that the transmission strength of high energy prices to other economic sectors remains uncertain, adding that while various

European Commission President Ursula von der Leyen announced that exporters will receive an additional one-year grace period under the EU's methane regulation.

According to Reuters, South Korea invested $2.4 billion in a Texas power project on Tuesday, according to South Korea's Foreign Ministry. The country's top diplomat, Cho Hyun, disclosed the information during a briefing to the National

According to Guru Club, WTI crude oil futures fell 1% on October 6, trading at $88.53 per barrel.

According to Yonhapnews, South Korea's Industry, Trade and Resources Minister Kim Jung-gwan said on October 6 that the Alaska liquefied natural gas (LNG) development project under discussion as part of investments in the United States holds strategic value, though actual investment will depend on co

According to Gate data, international oil prices declined sharply today. Brent crude futures broke below $100 per barrel, down 0.6%, while WTI crude futures fell 0.7% to $88.81 per barrel.