Commodities (Crude Oil & Copper) & Macro Outlook

US soybean oil fell 2.00% intraday, trading at $0.7476 per pound.

According to TASS, Russian oil company Surgutneftegaz produced 54.7 million tons of oil in 2025.

According to Fox News, U.S. Energy Secretary Wright announced that the United States will replenish its Strategic Petroleum Reserve with 40 million barrels of crude oil after the Iran conflict concludes.

According to U.S. oil industry executives, oil companies have warned White House and senior government officials in recent weeks that shipping disruptions in the Strait of Hormuz are causing crude oil shortages and reducing petroleum inventories. Industry leaders cautioned that global energy

According to Fitch Ratings, global oil supply is projected to exceed demand on a full-year average basis in 2026.

According to Guru Club, China's base metals futures declined sharply on June 5. Shanghai tin futures fell 5.24% to 404,410 yuan/ton, leading losses. Shanghai silver futures dropped 5.91% to 16,723 yuan/kg, while Shanghai gold fell 2.33% to 955 yuan/gram. Shanghai copper retreated 1.62% to 104,040 yu

According to a Bloomberg survey released June 5, OPEC crude oil production dropped to 16.33 million barrels per day in May, marking the lowest level in at least 37 years. Daily output fell by 1.22 million barrels, with Iran accounting for roughly half of the decline. Iran's crude production

According to BlockBeats data from Bitget, on June 5, WTI crude oil fell 2.3% to $92.18 per barrel, while Brent crude declined 2.2% to $92.28 per barrel intraday.

WTI crude oil fell below $93 per barrel intraday on June 5, declining 1.62% during the trading session.

According to Jin10 Futures, on June 5, the Europe shipping route index rose to 1836.7 points, up 2.3% week-over-week, as container lines implemented capacity reductions to ease supply pressure. The Mediterranean route saw strong demand despite increased capacity, with tight supply-demand dynamics su

According to SoSoValue, spot Bitcoin ETFs recorded $3.05 million in net inflows on June 4, marking their first positive day after 13 consecutive sessions of outflows. Spot Ether ETFs pulled in $19.3 million to end a 17-day outflow streak. Bitcoin traded near $62,300 and Ether at $1,660. The inflow

According to the World Trade Organization report released on June 5, global merchandise trade maintained resilience in early 2026 with the Goods Trade Barometer index at 101.7, above the benchmark of 100, despite Middle East tensions and elevated energy prices. Electronic components showed strong d

Terry Duffy, chairman and CEO of CME Group, issued a broad rejection of the first U.S.-approved perpetual futures contracts on Thursday, warning that the products could expose retail traders to elevated leverage. Speaking at the Piper Sandler Global Exchange & Fintech Conference, Duffy stated he

According to Terry Duffy at the Piper Sandler Global Exchange & Fintech Conference on Thursday, CME Group's CEO issued a broad rejection of the first U.S.-approved perpetual futures contracts, warning that the products could expose retail traders to elevated leverage compared with traditional

According to the World Trade Organization, global merchandise trade displayed resilience in the first half of 2026 despite Middle East conflicts, though signs of slower growth have begun to emerge.

According to the UK Government, on June 5, crude oil prices are likely to remain around $100 per barrel through 2028, even if the U.S. and Iran reach a peace agreement. The government revised its forecast upward due to expectations

According to Jieface, Zhangyuan Tungsten raised its June upper-half procurement prices for tungsten concentrates on June 5. Black tungsten concentrate (55% grade) was priced at 505,000 yuan per metric ton, white tungsten concentrate (55% grade) at 504,000 yuan per metric ton, and ammonium

According to China's National Development and Reform Commission (NDRC) Price Center, coking coal prices rose in May driven by supply constraints, steady demand, and market sentiment. For June, the NDRC's coking coal price expectation index reached 86%, up 7.2 percentage points from May and