Commodities (Crude Oil & Copper) & Macro Outlook

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

Yemen's Houthi rebels claimed attacks on facilities operated by Saudi Aramco on October 4, according to Reuters. The Iran-aligned group said it launched ballistic missiles and drones targeting sites in Riyadh and the Khurais area. Concern over potential supply disruptions from Saudi Arabia, a

According to Guru Club, Brent crude oil futures expanded gains to 1% on October 5, trading at $103.3 per barrel.

According to Nikkei, Saudi Arabia and the UAE agreed to assist Asian nations in building strategic oil reserves on October 5. A ministerial-level meeting of the Asia Zero Emission Community, led by Japan with 11 member states, will take place this week in the Philippines, where senior officials

According to Yonhapinfomax, OPEC+ decided to maintain production targets through November during a video conference on October 4. Seven member states including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman participated in the meeting. The group's next conference is scheduled

According to Iran's presidential office on Oct 4, oil minister Paknejad resigned and President Pezeshkian appointed National Iranian Oil Company (NIOC) CEO Hamid Borde as acting oil minister.

The U.S. Securities and Exchange Commission approved the listing of leveraged products designed to deliver three times the daily move in Bitcoin and Ether futures prices, according to an Oct. 4 report by Bitcoin.com. The SEC approved a proposed rule change filed by Cboe BZX, clearing the way for

Brent crude futures opened up $1 per barrel on Monday after Yemen-based Houthi militants claimed an attack on Saudi Aramco facilities.

WTI crude oil opened slightly higher on Monday, trading at $90.54 per barrel.

Saudi Aramco set its official selling price for Arab Light crude oil in November at a premium of $0.85 per barrel to ICE Brent for shipments to Northwest Europe, and at a premium of $4.60 per barrel to Arab Light crude for U.S.

According to Saudi Aramco, the company has set its official selling price for Arab Light crude oil destined for Asian markets in November at a discount of $5 per barrel to the Oman/Dubai crude blend average price.

According to UKMTO, on October 4, a tanker experienced multiple explosions while sailing approximately 60 nautical miles south of Mukha in the Red Sea off Yemen's southwestern Taiz Province. The crew is reported safe with no environmental impact recorded so far. Authorities are investigating the inc

According to Iran's Presidential Office, on October 4, President Masoud Pezeshkian accepted the resignation of Oil Minister Takeyamarjan Paknejad and appointed Hamid Bouri, Chief Executive Officer of the National Iranian Oil Company, as Acting Oil Minister.

According to Bitcoin.com News, the U.S. Securities and Exchange Commission has approved Cboe BZX Exchange rule modifications allowing Volatility Shares LLC to launch a 3x leveraged Bitcoin futures ETF and five additional leveraged commodity products. The product suite includes a 3x Ethereum ETF

According to Nikkei news, Saudi Arabia and the UAE announced on Thursday they will assist Asian nations in building strategic oil reserves. The announcement came during a ministerial meeting in Manila attended by the Asia Zero Emission Community, a group of 11 countries led by Japan. Both Saudi and

A tanker transiting the Strait of Hormuz was struck by an unknown projectile on Oct. 4, according to UKMTO, marking the fourth vessel hit since the start of October. The vessel suffered engine-room damage but all crew were reported safe, with no environmental impact identified at the time of the

According to UKMTO, a tanker transiting the Strait of Hormuz was struck by an unknown projectile on Oct. 4, suffering engine-room damage. All crew were reported safe with no environmental impact identified. This marks the fourth vessel hit in the latest sequence of attacks around the waterway

According to CCTV News, the International Energy Agency has released approximately 325 million barrels of strategic petroleum reserves on October 2, fulfilling over 80 percent of its 400 million barrel commitment announced in March. IEA head Fatih Birol disclosed the figure during a G7 leaders'

Next week, China will release September foreign exchange reserves and M2 on Wednesday and Friday, respectively. The U.S. will publish multiple economic indicators including PMI, ADP employment, and EIA crude oil inventory throughout the week. The Federal Reserve will also release minutes from its S