Commodities (Crude Oil & Copper) & Macro Outlook

The Group of Seven (G7) announced on October 2 (local time) the coordinated release of 100 million barrels of crude oil and diesel reserves to stabilize fuel prices under pressure from the United States. The release, coordinated by the International Energy Agency (IEA), will begin immediately and

LME copper futures closed up $15 at $14,258 per ton on October 2, while most other base metals declined. Aluminum fell $22 to $3,100/ton, zinc dropped $14 to $3,710/ton, lead decreased $6 to $1,852/ton, and nickel slipped $8 to $15,626/ton. Tin posted the steepest loss, falling $319 to $54,013/ton,

IEA Director Fatih Birol announced that after consultation with member states, the organization will finalize an allocation plan for energy reserves. He confirmed the agency has sufficient reserves and is prepared to release additional supplies if

According to IEA chief Fatih Birol, oil prices have fallen by at least $5 since the agency announced plans to release oil and diesel reserves into the market in the coming days and weeks.

According to documents submitted to the Russian State Duma, the Russian government's fuel subsidies to refineries are expected to drop 39% to 1.18 trillion rubles (approximately $14.1 billion) in 2027, down from an estimated 1.93 trillion rubles this

According to Gate data, Brent crude oil (XBRUSD) breaks through $106 per barrel at $106.02, up 0.3% in 24 hours.

According to Truth Social, on October 2, President Donald Trump announced that Europe agreed to release significant diesel reserves. Trump stated the release procedure would begin immediately. According to Reuters, the European Union discussed a proposal by France to release 50 million barrels of di

According to UN Women, on October 2, Middle East tensions blocking Hormuz Strait shipping are pushing up global food prices and creating income pressures. The agency estimates that by end-2026, approximately 22 million people globally will face food insecurity as a result, with about 53% of

According to French President Emmanuel Macron, the G7 agreed today (October 2) to release 100 million barrels of crude oil and diesel from strategic reserves to help lower fuel prices. The International Energy Agency (IEA) will coordinate the release, which will take place over the next four

A 49-year-old contractor was killed yesterday (October 1) while performing maintenance work at Codelco's Radomiro Tomic copper mine, marking the second fatal incident in Chile's mining sector within two weeks. The worker died in the crushing and material handling area. This incident underscores

According to the UK Maritime Trade Operations office, a tanker was struck by unidentified projectiles while transiting the Strait of Hormuz today. The strike caused a small-scale fire on board and resulted in power loss. The vessel remained operational with no reported casualties or environmental da

According to Trump's Truth Social post on October 2, U.S. President Donald Trump announced that a new U.S.-South Korea agreement includes $8.4 billion for an enhanced oil recovery project. Trump stated the investment aims to increase oil and gas production, strengthening American energy dominance an

According to Guru Club, France's presidential office announced on October 2 that it will release large quantities of diesel reserves within the initial 20 days.

On October 2, G7 leaders reaffirmed in a joint statement their commitment to not impose export restrictions on energy and energy products among member nations. The statement also called on all energy-producing countries to avoid implementing bans that could exacerbate market

According to a G7 leaders statement, the group will coordinate refinery maintenance schedules across member nations and request the International Energy Agency (IEA) to oversee full implementation of a commitment made in March this

On October 2, 2026, from 13:45 to 14:00 (UTC), BTC’s 15-min Return % was -0.36%, with a price range of 86459.6–86996.8 USDT and an Ampl of 0.62%. The price retreated from the intraday high but remained above 86,500, while trading activity was relatively light and volatility intensified. The main driver of this move was the continued escalation of geopolitical tensions in the Middle East. The United States deployed a third carrier strike group to the region, while Iranian missiles damaged U.S. mi

According to Guru Club, European diesel futures fell to intraday low near $1,350 per ton on October 2.

According to Guru Club, President Trump announced on October 2 that Europe has agreed to release substantial diesel inventory, with the process set to commence immediately.

According to French President Emmanuel Macron, the Group of Seven has decided to release up to 100 million barrels of diesel and crude oil inventories within the next four months.

According to Hassett, director of the White House National Economic Council, the U.S. Navy has opened the Strait of Hormuz, with crude oil currently flowing through the passage, ChainCatcher reported.