Commodities (Crude Oil & Copper) & Macro Outlook

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

According to Jin10, on Friday (Sept 25), Netherlands called for canceling the EU's mandatory natural gas storage targets, arguing the government should not replace market mechanisms. Climate Minister Stientje van Veldhoven stated in a letter to parliament that current EU regulations conflict

According to CryptoRank, RWA perpetual contracts on decentralized exchanges reached $365 billion in Q3 2026, up 32% from the prior quarter. Public equities dominated the category, generating approximately $175 billion, or nearly 48% of total RWA perpetual DEX volume. The remaining activity

According to oil trading sources cited by media, Saudi Arabia has shifted crude oil exports from Red Sea ports toward the Strait of Hormuz in September, causing ship-to-ship transshipment operations in the Oman Sea to approach their carrying capacity limit. The increased demand for ultra-large crude

According to Jin10 and the Jerusalem Post, Iran's Foreign Minister Abbas Araghchi announced on Thursday during the UN General Assembly in New York that Iran has proposed a plan to reopen the Hormuz Strait within seven days. The plan would be based on a memorandum of understanding reached between Ira

According to Bank of America, the bank raised its year-end target for 10-year U.S. Treasury yield to 5% on Sept 25, up from 4.5% previously. The 10-year yield had already reached 5.14% on Sept 23, marking the highest level since 2007. Bank of America also raised its 2-year Treasury yield forecast to

According to analysis by the Center for Research on Energy and Clean Air (CREA) released Friday, Russia-flagged vessels increased by 36% from January 2025 to June 2026, reaching 382 ships. The expansion reflects Moscow's efforts to maintain oil and gas exports despite Western sanctions. CREA

According to local officials, the Novoshakhtinsk oil refinery in Russia's Rostov region has suspended operations following a drone strike that damaged the facility, a regional governor said.

A 40-something investor in Korea restructured a 12 billion won portfolio in 2021 after selling a business, shifting from 90% safe assets to globally diversified investments and achieving an approximately 80% cumulative return. The investor faced concerns about missing market opportunities as