Commodities (Crude Oil & Copper) & Macro Outlook

Brent crude oil declined 2.5% intraday to $104.88 per barrel, while WTI crude dropped below the $100 per barrel mark, trading at $99.99, down over 2% today.

According to Shanghai Futures Exchange warehouse receipts report on September 11, multiple commodity futures saw notable changes in inventory levels. Silver warehouse receipts increased by 9,834 kg to 1,407,505 kg, while lead warehouse receipts rose by 1,462 tons to 59,753 tons. Hot-rolled coil ware

Iran-aligned Houthi forces seized the Red Sea port city of Mocha on Thursday, September 10, pushing crude oil prices above $100 as they advanced toward the Bab el-Mandeb Strait. Four Yemeni government military sources told Reuters the Houthis had taken Mocha and reached the strategic Hanish

According to sources cited by Jin10, at least two Asian refiners have requested Saudi Aramco shift the pricing benchmark for their long-term crude supply contracts from Dubai benchmark to ICE Brent crude price this week during negotiations for 2027 supplies. The refiners cited increased

According to the International Energy Agency's monthly report, the Strait of Hormuz handled an average daily flow of 7.6 million barrels in August.

According to the International Energy Agency monthly report, non-OPEC oil supply is expected to increase by 630,000 barrels per day in 2026.

According to the IEA's August monthly report, non-OPEC crude oil production increased by 240,000 barrels per day in August, driven primarily by the United States and the United Arab Emirates.

According to the IEA monthly report, OPEC+ oil production is projected to fall by 6.3 million barrels per day in 2026.

According to IEA monthly report, OPEC+ production declined by 1.8 million barrels per day in August 2026.

According to LME data released today (September 11), lead inventory decreased by 2,350 tonnes, zinc fell by 1,775 tonnes, and nickel rose by 2,820 tonnes. Tin inventory increased by 45 tonnes, copper declined by 275 tonnes, and aluminum fell by 250 tonnes.

According to the International Energy Agency monthly report, Russia's oil production in August declined by 200,000 barrels per day compared to July, falling to 8.36 million barrels per day.

According to the International Energy Agency's monthly report, global oil refinery utilization rates are expected to decline by 2.6 million barrels per day in 2026.

According to the International Energy Agency (IEA), global oil inventories fell by 3.1 million barrels per day in August. Since February, inventories have declined at an average rate of 2.8 million barrels per day.

According to IEA's monthly report, the International Energy Agency downward revised its Russian oil production forecasts for 2026 and 2027 due to continued Ukrainian strikes on energy infrastructure. The agency reduced its 2026 forecast by 125,000 barrels per day to 8.7 million barrels per day, and

According to the International Energy Agency, the IEA has adjusted its 2026 global oil supply forecast to 1.74 million barrels per day below demand, compared to its previous estimate of 1.27 million bpd shortage. The agency widened its projected supply deficit by 470,000 bpd in the updated forecast.

According to the International Energy Agency's monthly report, global oil supply in 2026 is now forecast at an average of 100.7 million barrels per day, down 5.7 million barrels per day from 2025 levels and 1.3 million barrels per day lower than the agency's previous

According to the IEA's latest monthly report, the full recovery of oil supply from Gulf producers is expected to be delayed until 2027.

The International Energy Agency (IEA) lowered its oil demand forecast on September 11 due to escalating tensions involving Iran. The revision reflects reduced economic growth expectations tied to geopolitical developments in the

According to Reuters, Norway's energy ministry received applications from 21 oil and gas companies on Friday for the latest annual petroleum licensing round (APA), representing an increase of one bidder from 2025 as Shell rejoined after sitting out last year's round. The round covers 70