Commodities (Crude Oil & Copper) & Macro Outlook

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.

According to the API, for the week ending June 26, U.S. gasoline inventories fell by 2.106 million barrels, missing expectations of a 906,000-barrel decline. The previous week saw an increase of 1.238 million barrels.

According to API data, U.S. heating oil stockpiles fell to 205,000 barrels in the week ending June 26, down from 405,000 barrels the previous week.

According to API data, U.S. Cushing crude inventories rose 503,000 barrels for the week ended June 26, reversing the previous week's decline of 982,000 barrels.

The American Petroleum Institute (API) will release its weekly crude oil inventory report at 04:30 Beijing time. Non-API members can access the data details around 04:32.

In the first half of 2026, oil-linked ETFs surged 43.68%, while emerging markets ETFs, Russell 2000 ETFs, Barclays convertible bond ETFs, and Nasdaq 100 ETFs gained between 20.16% and 25.69%. By contrast, euro and yen bullish ETFs, along with gold ETFs, declined between 2.43% and 7.05% during the

According to U.S. Energy Secretary Wright, Iran has demonstrated no willingness to cooperate. Wright stated that continued oil transport through the Strait of Hormuz is sustained by American military security

According to Bloomberg, CBOT corn futures surged 1.51% to $4.3650 per bushel on June 30, as the U.S. Department of Agriculture (USDA) released its quarterly report. The Bloomberg Commodity Index for grains climbed 1.19% to 29.1626

Brazil's Finance Minister stated recently that the government will adhere to its fiscal targets and is discussing the gradual phaseout of related policies. Discussions on gasoline subsidies have neared conclusion, with the government planning to eliminate them progressively once price pressures

The Shanghai Futures Exchange's crude oil futures 2608 contract fell 1.17% during evening trading, closing at 456.70 yuan per barrel. Shanghai gold futures rose 0.80%, while Shanghai silver futures surged 3.43% in the overnight

According to an oil tanker tracking firm, Iran's crude oil exports reached approximately 1.66 million barrels per day in June. Since sanctions were eased, the country has exported a cumulative total of around 50 million barrels, according to the tracking

Spot gold traded near $4,033.20 an ounce, up 0.44%, and spot silver traded near $58.960, up 1.34%, ahead of the North American market open Tuesday, as silver led a modest precious-metals rebound. The dollar and Treasury yields remained firm enough to cap gold's upside, with DXY near 101.37 and the 1

According to Kitco NewsWire, spot gold and silver prices rebounded on Tuesday, with gold trading near $4,033.20 per ounce, up 0.44%, and silver near $58.96 per ounce, up 1.34%. The precious metals rally was capped by firm dollar and Treasury yields, keeping gold below its resistance zone. The U.S.