Commodities (Crude Oil & Copper) & Macro Outlook

Brent crude held near $84 a barrel on Monday as Iran described its Strait of Hormuz negotiations with Oman as in their 'final stages' while the United States maintained its naval blockade and rerouted 55 commercial vessels away from the waterway. The divergence stems from two parallel negotiations:

According to US Central Command, Brent crude held near $84 on August 10 as the US rerouted 20 additional commercial vessels (55 total) away from the Strait of Hormuz, contradicting Iran's claim that negotiations were in their 'final stages.' The blockade, in place since April, remains intact

According to Ukraine's Agriculture Ministry, the country may face a grain storage capacity shortfall of 11 million tons this autumn due to ongoing export disruptions.

The Taiwan Machinery Association stated on August 10 that the machinery industry achieved $3.305 billion USD in exports during July, marking an 18.4% year-over-year increase. The association expressed concerns that geopolitical conflicts, including high-tech and rare earth controls, are impacting

According to Taiwan Machinery Association, the island's machinery exports reached $3.305 billion in July, up 18.4% year-over-year on August 10. Exports have shown positive growth for 18 consecutive months, with the first seven months of 2026 recording a 19.1% year-over-year increase

According to Shanghai Futures Exchange announcement on August 10, the exchange has suspended two traders, Wang Xianyue and Xie Yuanchao, from opening new positions for 12 months. The traders engaged in matched trading across multiple accounts between January 8 and 23, 2026, on cathode copper

According to Jin10 Futures, on August 10, Shanghai Energy Exchange fuel oil futures inventory surged by 31,000 tons compared to the previous trading day, marking the largest single-day increase. Separately, pulp futures warehouse holdings rose by 2,299 tons to 369,664 tons. Other energy and

According to APK-Inform, Ukraine's wheat production forecast for 2026 was raised to 26.6 million tons from 22.4 million tons. The upward revision reflects improved crop expectations for the year.

According to APK-Inform, Ukraine's grain exports for the 2026/27 season are projected to include 13.5 million tonnes of wheat, 24 million tonnes of corn, and 1.5 million tonnes of barley.

Energy Secretary Sharon Garin announced fuel price rollbacks effective August 11 during a press conference on August 10. Gasoline will decrease by at least P4.70 per liter, diesel by at least P4.30 per liter, and kerosene by at least P4.88 per liter. The rollback follows easing pressure in global

According to Energy Secretary Sharon Garin, the Philippines will implement fuel price rollbacks starting August 11. Gasoline will be reduced by at least P4.70 per liter, diesel by P4.30 per liter, and kerosene by P4.88 per liter. The announcement was made on August 10. The price adjustments follow e

According to media reports and White House statements, Trump administration officials claimed on Thursday that a Strait of Hormuz agreement could be reached imminently, but negotiations appeared deadlocked as Iran denied active U.S. talks and rejected proposed terms. U.S. Treasury Secretary Scott

According to ITAR-TASS, Kazakhstan redirected part of its oil exports through alternative routes in July after the Caspian Pipeline Consortium (CPC) operations were disrupted.

According to Yonhap Infomax, HD Hyundai Heavy Industries today signed a contract with Koba Energy Group to supply power generation equipment based on 9.6 MW HiMSEN engines for U.S. data centers operated by major tech companies. The total contract value is 1,000 MW capacity worth approximately 956

According to Guru Club, the Abu Dhabi National Oil Company (ADNOC) announced today that it will invest more than $8 billion to expand production capacity. The investment will advance the second and third phases of its rich gas development

According to state media, Yemen's Houthi forces launched a large-scale, high-intensity strike on August 9 targeting Saudi-backed armed forces at Mokha port in Taiz Province, deploying ballistic missiles and unmanned drones against assembly points and weapons caches. China's crude oil futures main c

According to Yonhap Infomax, U.S. stock index futures declined on Aug 10 morning (Korean time 10:09 AM) as uncertainty grew over U.S.-Iran negotiations regarding freedom of navigation through the Hormuz Strait. E-mini S&P 500 futures fell 5.50 points (0.07%) to 7,724.25, while E-mini Nasdaq-100 futu

US construction companies added 22,000 jobs in July despite overall employment decreasing by 23,000, driven by surging artificial intelligence infrastructure investment. The hiring concentrated in non-residential and infrastructure construction, which added 126,000 positions over the past year

On August 10, market analysts noted that traders are not lacking direction but rather awaiting two key factors: how August weather conditions will materialize and the USDA's first survey-based crop yield estimates for the week. These data points are expected to guide near-term soybean trading

According to China National Offshore Oil Corporation (CNOOC), on August 9, the Bohai Oilfield's Bozhong 19-6 gas field achieved full production with daily output exceeding 5,200 tons of oil equivalent. The oilfield also reported cumulative oil and gas production of 21 million tons in the first