Commodities (Crude Oil & Copper) & Macro Outlook

According to the U.S. Energy Information Administration (EIA), oil shipments through the Strait of Hormuz are now assumed to resume in the third quarter of 2026. However, traffic through the strategic waterway is not expected to return to pre-Iran war levels before

According to the U.S. Energy Information Administration, the agency raised its 2026 natural gas production forecast to 111 billion cubic feet per day (Bcf/d), up from the previous estimate of 106 Bcf/d. For 2027, the EIA lowered its demand forecast to 113.6 Bcf/d, compared to its prior projection o

The U.S. Energy Information Administration (EIA) forecasts the average WTI crude oil price for June at $88.32 per barrel, compared to the prior month's $85.68 per barrel, reflecting an increase of $3.64 or approximately 4.25

According to EIA, U.S. natural gas production for June is forecast at 110 billion cubic feet per day, up from 106 billion in the previous period.

According to the U.S. Energy Information Administration, the agency raised its forecast for American crude oil production in 2026 to 13.72 million barrels per day, up from the previous estimate of 13.65 million barrels per day. The EIA also increased its 2027 production forecast to 14.15 million bar

Brent crude oil futures fell below the $90 psychological level today, marking the lowest level since April 17, with intraday losses of 4.5%.

The U.S. Energy Information Administration raised its 2026 Brent crude oil price forecast to $95.39 per barrel from a previous estimate of $94.85 per barrel. The agency kept its 2027 forecast unchanged at $79.39 per barrel.

On June 9, WTI crude oil declined 4.5% to $87.17 per barrel, while Brent crude fell 4.0% to $90.43 per barrel during intraday trading.

The U.S. Energy Information Administration (EIA) will release its monthly Short-Term Energy Outlook report in approximately ten minutes.

According to U.S. Energy Secretary Wright, speaking at an Atlantic Council meeting on Tuesday, traffic through the Strait of Hormuz is significantly increasing amid ongoing conflict with Iran. Wright added that energy supplies will require several months to return to normal levels after the conflict

According to Canadian trade data, Canada's merchandise trade surplus surged to 27.2 billion CAD in April, the highest since January 2026 and marking the second consecutive month of trade gains. Total exports reached a record 752 billion CAD, up 1.6% from March. Trade with the United States, Canada'

Canada's April merchandise trade surplus climbed to CAD 2.72 billion, marking the highest level since January 2026, according to official trade data. Total exports rose 1.6% month-over-month to a record CAD 75.2 billion, driven primarily by a 7% surge in crude oil exports following rising oil

According to India's Deputy Commerce Secretary Ravi Teja, the country is considering extending a tax exemption on 40 petrochemical products imported for plastic and pharmaceutical manufacturing beyond the June 30 deadline. The original policy, announced in April, was implemented to address

According to White House officials, WTI crude oil fell 4.0% to $87.54 per barrel and Brent crude declined 3.5% to $90.86 per barrel today (June 9), following reported positive developments in talks aimed at preventing Iran from acquiring nuclear

According to the U.S. Commerce Department announced Tuesday, April trade deficit in goods and services declined 1.2% month-over-month to $55.9 billion, beating market expectations of $56.2 billion. Total exports rose 2.6% to a record high, led by a 60% surge in crude oil exports as Middle East

BP announced that Gordon Birrell will serve as head of Upstream as part of the company's strategic restructuring into two core business divisions. Richard Harding has been appointed interim head of Downstream, the company's other major operating

According to the International Air Transport Association (IATA), global airlines' profits are forecast to decline by 50% in 2026 due to a $100 billion surge in fuel costs. The organization warned that skyrocketing fuel prices will significantly compress the industry's profitability and operating

According to Guru Club, Brent crude oil broke below $92 per barrel on June 9, falling 2.43% intraday.

According to Guru Club, WTI crude oil futures fell 3% to $88.564 per barrel on June 9, while Brent crude futures declined 2.63% to $91.769 per barrel, as international oil prices continued their downward