Commodities (Crude Oil & Copper) & Macro Outlook

According to Rappler, on Friday, September 25, President Ferdinand Marcos Jr. suspended excise taxes on liquid petroleum gas (LPG) and kerosene via Executive Order No. 125, effective immediately upon publication. The suspension lasts up to three months and was triggered by Dubai crude oil

According to CNBC, Federal Reserve Chair Kevin Warsh raised rates by 25 basis points in September, marking the first rate increase since 2023. Warsh, 127 days into his tenure, is gradually shifting the Fed's policy framework to de-emphasize traditional forward guidance and instead focus on broader f

According to sources on Sept 25, Iraq's state-owned marketing company cut prices for Basra medium and heavy crude oil to attract buyers, citing elevated shipping costs and geographic disadvantages relative to the Strait of Hormuz. The country relies on trading companies to market and transport its c

According to Jin10, on September 25, Hong Kong Exchanges and Clearing Limited (HKEx) announced that its subsidiaries, Hong Kong Futures Clearing Company Limited and Hong Kong Options Clearing House Limited, will accept

According to Puntland Maritime Police Force, the U.S.-sanctioned oil tanker SIBU 1, which was hijacked by Somali pirates in August, has been rescued.

Saudi Arabia and the United Arab Emirates called on U.S. President Donald Trump to sustain sanctions and a naval blockade against Iran. The request comes amid ongoing maritime conflicts and stalled diplomatic efforts in the region. The Saudi and UAE stance aligns with their interests in

According to South Korea's National Assembly, the government announced on September 22 its first major U.S. strategic investment project: a Texas natural gas combined-cycle power plant with 6.3 gigawatts (GW) capacity and $22.3 billion investment. The project aims to supply power to data centers in

According to Jin10 on September 25, Indian Oil Corporation (IOC), India's largest refiner, has won a tender from Iraq's state oil marketer to purchase 1 million barrels of Iraqi crude oil for October shipment at prices $23-28 per barrel below Dubai benchmark rates, according to two trade sources.

The USD-KRW exchange rate fell 8.50 won to 1,357.50 won as of 3:30 PM on September 25 in the Seoul foreign exchange market, compared to the previous trading day's close. The decline came as the yen strengthened and international oil prices dropped. Japanese Finance Minister Katayama Satsuki stated a

According to people familiar with the discussions, oil prices fell on Friday as markets assessed the possibility of U.S.-Iran ceasefire negotiations while remaining concerned about potential supply disruptions from escalating Houthi attacks on Saudi Arabia. Talks between U.S. and Iranian

According to Seoul Foreign Exchange Market data, the USD-KRW exchange rate fell 8.50 won to 1,357.50 won on Sept 25 (Chuseok, Korean Thanksgiving Day), down 11.50 won from New York's previous session close. The decline was driven by yen strength and lower oil prices in Asian trading, with WTI

According to President Zelenskyy, Ukraine attacked two Russian oil refineries over the past 24 hours on September 24. The strikes targeted critical energy infrastructure as part of ongoing military operations.

According to Guru Club, on September 25, Brent crude oil futures fell 2% to $98.058/barrel.

The EU Gas Coordination Group will hold a meeting on October 8.

According to Jin10, next week (Sept 29 to Oct 4) features critical futures market data and events. Key releases include: U.S. USDA weekly crop report and seasonal inventory data; China's official manufacturing and services

According to Jin10, on September 25, European stocks rallied as crude oil prices fell amid market expectations that the Hormuz Strait could soon reopen. Bond yields stabilized, supporting the advance. The banking sector led gains, with UBS up 2.5% following reports the Swiss lender is considering a

According to reports citing maritime data firm Windward, only 9 commercial vessels transited the Strait of Hormuz on Thursday (September 25), with 8 departing the waterway. The daily count has dropped from double-digit volumes to single digits, though the 10-day average remains at 18 transits. On

According to IEA's mid-year coal report released on September 25, the International Energy Agency raised its 2026 global coal demand forecast to growth of 1.2%, with total consumption reaching 8.94 billion tonnes, a new record. The revision comes as Middle East conflict-driven supply disruptions

According to CME data, on September 24, energy markets showed broad strength in both trading volume and open interest. Natural gas contracts led gains with trading volume surging 438,177 contracts to 1,062,521 and open interest jumping 32,675 contracts to 1,850,649. WTI crude oil trading volume