Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, wheat futures surged for a third consecutive trading day on Monday, October 5, climbing 1%, amid Russian threats to intensify strikes on Ukrainian infrastructure. The surge reflects market concerns over potential disruptions to global grain supplies shipped through the Black

The USD-JPY exchange rate in the Tokyo market rose 0.16% to 158.097 yen as of 1:25 PM on the 5th, driven by persistent US interest rate rise expectations and concerns over Japan's trade balance deterioration amid strong international oil prices. According to Yonhap Infomax, the currency pair had

According to Yonhapinfomax, USD/JPY rose to 158.097 yen on October 5 afternoon Tokyo time, up 0.16% day-over-day. U.S. long-term yields rebounded despite softer September employment data released October 2, with markets pricing in the possibility of additional Federal Reserve rate hikes before

According to TradingEconomics, Brent crude's December contract trades near $101.50 a barrel on October 5, down 0.71 percent after settling at $102.25 on Friday. WTI is near $89.99. OPEC+ held its November production targets unchanged at 31.01 million barrels per day on October 4, with Saudi

According to Kpler, crude oil exports from the Middle East exceeded pre-conflict levels on four of the seven days in late September, despite vessel attacks in the Strait of Hormuz. Data released on October 5 showed exports reached 19.5 million to 22.5 million barrels per day on September 24 and Sept

According to South Korea's Ministry of Oceans and Fisheries, on October 5, an 18th South Korean oil tanker passed through the Suez Canal carrying crude oil from the Red Sea port of Yanbu to South Korea. This marks the third such shipment via this route since the Hormuz Strait closure and the first p

According to Japanese Cabinet Chief Secretary Makoto Kimura, Japan does not plan to further release crude oil from national reserves, having already done so recently. The statement comes after the Group of Seven agreed on Friday to release 100 million barrels of crude oil and diesel from emergency s

According to Daishin Securities analysis, on September 30, Trump announced South Korea's strategic investment plan totaling up to $200 billion in U.S. projects, including eight nuclear reactors ($120 billion), a Texas gas-fired power plant ($22 billion), and Alaska LNG development ($50 billion). Sou

According to China's State Administration for Market Regulation (SAMR), the International Organization for Standardization (ISO) approved seven natural gas international standards led by China on October 5. The standards cover shale gas exploration and development, natural gas carbon footprint

U.S. August PCE data came in weaker than expected, dampening expectations for Federal Reserve rate hikes. Meanwhile, Saudi Arabia resumed oil exports through its east-west pipeline, but ongoing U.S.-Iran negotiations remain at an impasse, leaving crude oil caught between bullish and bearish

According to China National Petroleum Corporation, the country's largest desert oil field—Hadhe-Fulman—has surpassed 260 million tons of oil and gas production from depths below 6,000 meters. On October 5, the Zhentang-1 well, located at the northern edge of the Taklimakan Desert, successfully

According to China National Petroleum Corporation, the Hadhe-Fuman oil field in the Taklimakan Desert has surpassed 26 million tons of oil and gas production from depths exceeding 6,000 meters. Recently, the Zhentan-1 well at the northern edge of the Taklimakan successfully extracted rock core

WTI crude oil broke below $89 per barrel on October 5, declining nearly 1.5% during intraday trading.

According to shipping data from Kpler released on October 5, Middle East crude oil exports exceeded pre-conflict levels on four days in the final week of September, rising to 19.5 to 22.5 million barrels per day on September 24 and September 27-29. This compares to an average of 18 million barrels p

According to Jin10 Data, China's bulk commodity price index rose 4.1% month-on-month in September, as announced by the China Federation of Logistics and Purchasing on October 5. The increase reflects improved market sentiment driven by traditional production season onset, accelerated major project r

According to statements released over the weekend and on Monday (October 5), G7 leaders decided to release up to 100 million barrels of diesel and crude oil reserves within 4 months, reaffirming commitments to avoid energy export restrictions among member nations. Simultaneously, OPEC+ maintained it

According to Taiyang Petroleum CEO, on October 5, the Japanese refiner opposed the government's push to diversify crude oil sourcing, arguing that the Middle East should remain the primary supply source due to cost efficiency. The CEO stated that Japan's strategy should focus on procuring crude at t

According to Jin10, Saudi Aramco cut its November official selling price (OSP) for Arab Light crude to Asia by $3 per barrel to $5 below the Oman/Dubai benchmark on October 5, marking the largest discount since June 2020. The move surprised the market, which had expected a $3/bbl increase. Saudi

Brent crude oil touched down to $101 per barrel intraday on October 5, declining 0.88% during the trading session.

According to Hong Kong Exchanges and Clearing CEO Tony Chen on October 2, the exchange plans to introduce Chinese yuan-denominated gold futures as part of efforts to deepen offshore yuan business and capital market development. Chen noted that international investors are refocusing on Asian