Commodities (Crude Oil & Copper) & Macro Outlook

According to U.S. Department of Energy data, on June 30, the Strategic Petroleum Reserve (SPR) crude oil inventory declined 5.5 million barrels to 323.8 million barrels, reaching its lowest level since May 1983. The drawdown is part of an agreement to release 170 million barrels from the reserve to

According to maritime data firm Kpler, traffic through the Strait of Hormuz collapsed to 12 vessels on June 29 (yesterday), down from 70 on June 24, following an attack on Ever Lovely, a Singapore-registered container ship operated by Evergreen Marine. The sharp decline occurred as the United

According to Jin10, President Trump on June 30 demanded gas retailers lower prices immediately, targeting $2.50 per gallon amid falling crude oil. Current crude trades at $68 per barrel, yet U.S. average gasoline prices remain at $3.86 per gallon, Trump said. The president warned that retailers

According to Jin10, Malaysia crude palm oil futures on the Bursa Malaysia Derivatives exchange may open higher on Tuesday morning, driven by crude oil's rebound following Middle East tensions on Monday. The strength in crude oil prices increases palm oil's appeal as a biodiesel feedstock,

The Iranian military announced on June 29 afternoon that all vessels transiting the Strait of Hormuz are now permitted to pass only through the southern shipping lane south of Larak Island.

According to the White House, President Trump authorized a suspension of certain tariffs on phosphate fertilizer imports from Morocco today.

According to Iran's Foreign Ministry spokesman on June 30, Iran's priority is executing all provisions of the memorandum. The U.S. has issued the required license for Iran's oil exports, and Iran is monitoring implementation progress. Procedures for unfreezing Iran's assets are also

According to foreign media reports, international crude oil prices rose on Monday as military exchanges between the United States and Iran over the weekend highlighted the fragility of a temporary peace agreement. However, expected continued recovery in shipping through the Strait of Hormuz is

Morgan Stanley cut its third-quarter Brent crude spot price forecast by $15 per barrel to $75 per barrel.

Heraeus precious metals analysts stated that gold and silver prices should benefit from lower oil prices as inflation expectations moderate and bond yields drop, while the gold market's center of gravity may be shifting toward Asia. Gold fell below $4,000/oz for the first time since November 2025 la

According to Jin10, crude oil prices rose on June 29. West Texas Intermediate (WTI) August futures climbed $1.52 to $70.75 per barrel, up 2.2%, while Brent August futures gained $1.16 to $73.15 per barrel, up 1.61%.

According to the U.S. Department of Agriculture (USDA), corn and soybean crop ratings declined on Monday in the weekly crop progress report released. The USDA rated 67% of corn crops and 65% of soybean crops as good to excellent, both down 1 percentage point from the previous week and below

According to U.S. Department of Energy data, crude oil inventories in the Strategic Petroleum Reserve (SPR) declined by 5.5 million barrels to 325.7 million barrels, reaching the lowest level since May 1983. The reduction is part of an agreement to release 172 million barrels from the strategic

WTI August crude futures closed at $70.75 per barrel, up $1.52 (2.20%) today (June 29). NYMEX August natural gas futures settled at $3.1810 per million British thermal units. NYMEX July gasoline futures closed at $3.0614 per

According to Jin10, Shanghai gold futures closed down 1.25% at 880 yuan/gram, while Shanghai silver futures fell 0.98% to 14,142 yuan/kilogram. SC crude oil futures rose 0.41% to 464 yuan/barrel as of 2:30 AM close on

Shanghai Futures Exchange crude oil futures contract 2608 closed up 0.41% at 463.70 CNY per barrel in night trading on June 29. Shanghai gold declined 1.25% and Shanghai silver fell 0.39% in the same session.

According to U.S. Department of Energy data, the Strategic Petroleum Reserve crude inventories fell by approximately 5.5 million barrels last week, declining to 325.7 million barrels—the lowest level

Shanghai aluminum futures declined 2.19% and Shanghai nickel futures dropped 2.55% during night trading on June 29. Other base metals showed mixed movement: international copper fell 0.24%, Shanghai copper declined 0.27%, Shanghai zinc rose 0.12%, Shanghai lead dropped 0.37%, and Shanghai tin fell 0

WTI crude oil gained 1% intraday to $70.78 per barrel, while Brent crude rose 1.3% to $74.11 per barrel as of June 29.