Commodities (Crude Oil & Copper) & Macro Outlook

Japan is accelerating development of deep-sea rare earth deposits near Minamitorishima Island, collaborating with the United States to reduce dependency on China. In February 2026, Japan successfully recovered rare earth-bearing sediment from approximately 6000 meters depth, with the seabed

According to Bloomberg, Japan and the United States are accelerating collaboration to develop deep-sea rare earth reserves around South Island in the North Pacific. The seabed at approximately 6,000 meters depth is estimated to contain over 16 million tons of rare earth resources, including

According to the Intercontinental Exchange (ICE), natural gas speculators increased their net long positions by 1,807 contracts to reach 92,522 contracts during the week ending August 18.

According to the Intercontinental Exchange (ICE), speculative net long positions in Brent crude oil increased by 11,149 contracts to 251,897 contracts in the week ended August 18.

Brent crude oil reached $93 per barrel on August 21, gaining 1.41% during the day and marking its highest level since July 24.

The US military supported the transit of over 660 million barrels of oil through the Strait of Hormuz since early May, according to a statement from US Central Command spokesman Tim Hawkins on the 21st local time. Hawkins said the military assisted more than 1,300 commercial vessels navigating throu

According to CNBC, a spokesman for the U.S. Central Command announced on August 21 that the U.S. military has facilitated the passage of over 660 million barrels of oil through the Strait of Hormuz since early May, with more than 1,300 commercial vessels transiting the waterway. However, U.S.

U.S. natural gas drilling rigs totaled 127 in the week of August 21, down one from 128 in the prior week, according to weekly industry data.

U.S. total rig count fell to 588 for the week of August 21, down 5 from the prior week's 593, according to energy sector data.

U.S. oil rigs for the week of August 21 totaled 452, down 3 from the prior week's 455, according to weekly rig count data.

LME base metals closed mixed today. Copper futures rose $179 to $14,216 per ton, while nickel gained $178 to $17,058 per ton. Zinc advanced $63 to $3,823 per ton and aluminum increased $32 to $3,238 per ton. Lead declined $4 to $1,898 per ton, and tin closed up $88 at $55,891 per ton. Cobalt

According to Jin10, Critical Metals CEO Tony Seghi said on August 22 that the company's Tanbreez rare earth project in Greenland remains on track to begin production in 2029, reaffirming the previously announced timeline. "We are sprinting toward the finish line and I believe we will deliver product

The U.S. weekly oil drilling rig count through August 21 will be released shortly.

ConocoPhillips' stock is trading near $135 following a six-day rally that has lifted the oil and gas company 8.6% since its last session. The current move puts it on track for a new closing high for the first time since November 2022, based on historical data dating back to 1972.

Democratic Republic of Congo copper exports increased 4% in the first half of 2026, reinforcing the African nation's standing as the world's second-largest supplier of the industrial metal, according to government data. Total copper shipments reached 1.72

According to recent reports, U.S. Treasury Secretary Scott Bessent's signature "3-3-3 Plan" is increasingly detaching from economic reality. The plan targeted a 3% GDP growth rate, a fiscal deficit at 3% of GDP, and 300,000 additional barrels of daily oil production, with the 10-year Treasury

According to Jin10, on August 21, Canada and the United States are negotiating a trade agreement that introduces a tiered tariff structure for Canadian steel exports. Steel exports within an annual quota of 4 million tons will face a 25% tariff, while shipments exceeding the quota will be subject to

According to Guru Club, China's commodity futures markets closed mostly higher overnight on August 21, with black metals leading gains. Coking coal surged 3.51%, while chemical products advanced, including soda ash up 2.62%. Energy commodities rose across the board, with liquefied petroleum gas gain

According to Guru Club, coke futures main contract rose 3% intraday today (August 21).

The U.S. Treasury announced on August 21 that it would expand long-term government bond buyback operations from approximately $2 billion to at least $4 billion, which pushed long-term bond yields lower. As government bond yields decline, investors increasingly shift toward alternative assets like