Commodities (Crude Oil & Copper) & Macro Outlook

The Shanghai Containerized Freight Index Europe Line main contract fell 200 points intraday today, now trading at 2638.5, down 7.05% for the session.

According to Jin10 Futures, on July 1, container shipping futures for the Europe route fell 6% to 2,666 points, with the main contract rolling from EC2607 to EC2608. Maersk's latest quotes for week 29 stood at $3,300 per TEU (twenty-foot equivalent

According to China Jinlian, as of July 1, domestic gasoline and diesel prices should fall 820 yuan/ton with a change rate of -15%, based on benchmark crude averaging $74.19/barrel. The adjustment window closes on July 3 at 24:00 (midnight). Market conditions across China show weakness. Shandong ind

Mark Zandi, chief economist at Moody's Analytics, said on July 1 that the U.S.-Israel conflict with Iran has cost the average American household approximately $1,000. The losses include increased fuel costs from rising oil prices, higher spending on goods and travel due to inflation, and the househo

South32 shares rose 10% following the company's sale of its aluminum business to Alcoa for $5.6 billion. The transaction marks a significant divestment as South32 continues to streamline its portfolio.

South Korea's imports surged 30.1% year-over-year in June, beating the forecast of 24.5% and accelerating from the prior month's 20.8% growth.

South Korea's import growth surged to 30.1% year-over-year in June, beating the consensus forecast of 26.3%, according to official trade data. The previous month's figure was revised upward to 20.70% from an initially

According to Guru Club, WTI crude oil futures rose 0.8% to $70.06 per barrel in Asian morning trade on July 1, recovering from a technical selloff after posting its largest quarterly decline since 2020 on Tuesday. The rebound was supported by uncertainty surrounding control of the Strait of

According to reports, CBOT soybean oil futures closed sharply lower on Tuesday, with benchmark contracts declining 2%, driven by weakness in crude oil futures and unwinding of soybean oil and meal crush spread trades. Traders noted that lower international crude oil prices put downward pressure on t

According to Statistics Canada, ICE Canadian canola futures declined 1.2% on Tuesday (June 24) after the country's statistics bureau reported planting area data that exceeded market expectations. Canada's 2026/27 canola acreage is projected to reach a record 23.44 million acres, up 8.4% from last

According to an official statement, Brazil's state-controlled oil company Petrobras will reduce diesel prices by 0.35 reais per liter effective July 1.

According to Guru Club, WTI July crude futures fell 1.77%, closing at $69.50 per barrel on June 30, with cumulative June losses exceeding 18.52% and second quarter declines of nearly 14.86%. Brent August crude futures declined 0.31% to $72.92 per barrel, dropping over 19.97% in June and 19.13% in

According to Jin10, precious metals declined sharply in the first half of 2026, with spot gold falling over 7%, spot silver down approximately 18%, spot platinum down over 24%, and spot palladium down nearly 25%. By contrast, WTI crude oil gained 21.6% and Brent crude rose 20% year-to-date, though p

U.S. stock indexes posted strong gains in the second quarter, with the Russell 2000 small-cap index climbing 21% to mark its best first half since 1991 according to Bespoke Investment Group. The rally was driven by robust corporate earnings throughout the first half and declining oil prices after

According to Bespoke Investment Group, the Russell 2000, a U.S. small-cap index, gained 21% in the first half of 2026, marking its best H1 since 1991. The rally was fueled by strong corporate earnings in Q2, particularly in tech. SpaceX's debut IPO accounted for $87.5 billion in listings,

According to API data, U.S. crude oil production rose to 76,000 barrels per day for the week ending June 26, reversing the previous week's decline of 205,000 barrels per day.

According to API data, U.S. crude oil inventories increased by 2.922 million barrels as of June 26, contrary to expectations of a 852,000-barrel decline. The prior week saw an increase of 1.447 million barrels.

According to API data, U.S. crude oil inventories fell by 6.072 million barrels for the week ended June 26, exceeding analyst expectations of a 4.05 million barrel decline.

According to the API (American Petroleum Institute), U.S. crude oil product imports rose to 213,000 barrels per day for the week ended June 26, up from a previous weekly level of -152,000 barrels per day.

U.S. crude oil imports declined to -180,000 barrels for the week ending June 26, according to API data, reversing from the prior week's inflow of 226,000 barrels.