Commodities (Crude Oil & Copper) & Macro Outlook

According to BlockBeats, U.S. Vice President Vance said on August 8 that Iran negotiations have made progress over the past few days. Vance noted that talks are focused on maximizing oil and natural gas production in the Strait of Hormuz and seek an Iranian commitment to refrain from firing on

According to Bloomberg, Turkey's Coast Guard is restricting commercial vessel transits to the Black Sea due to escalating attacks by Russian and Ukrainian forces in the region. The authority has instructed ships heading to Russia's Novorossiysk, a key oil and grain export hub, that transit permits

According to reports from Agence France-Presse, the Pentagon announced on August 8 that it will provide a $400 million conditional loan to Australian mining company Sunrise Energy Metals to construct the world's first major scandium extraction facility. The mine will be located in Fifield, New

According to BlockBeats, over the past week, crude oil prices fell significantly as the Strait of Hormuz showed signs of reopening, pushing the market's probability of a September Federal Reserve rate hike down from about 55% to 44%. U.S. job additions came in lower than expected in July, with

According to Everbright Securities research report, in July, U.S. nonfarm employment unexpectedly declined by 23,000, falling short of expectations of 80,000 gains. The unemployment rate fell to 4.1% against expectations of 4.2%, despite the drop in payrolls. Prior months were revised down by a

According to Iranian media Fars News, Iran's Foreign Minister stated today (August 8) that negotiations with Oman over a temporary transit route through the Strait of Hormuz are nearing completion and are "very close" to reaching an agreement. The talks involve technical complexities, but both

According to CBS News, U.S. President Trump announced on Friday plans to provide over $180 million in grants to support mining industry education and trade programs, aiming to increase critical mineral production. The Department of Energy will launch a $100 million grant program to expand talent in

According to the UAE National News Agency, ADNOC (Abu Dhabi National Oil Company) reported that a vessel came under attack overnight with no personnel injured in the incident.

According to the UAE national news agency, an ADNOC vessel was struck by a missile while transiting the Strait of Hormuz on Saturday morning. The situation is reported to be under control.

According to Iran's Revolutionary Guard spokesman, the reopening of the Strait of Hormuz depends on the United States fully accepting Iran's conditions. The spokesman clarified that this is unrelated to ongoing negotiations between Iran and

According to ChainCatcher, the U.S. Commodity Futures Trading Commission (CFTC) issued a notice requiring regulated entities listing, promoting, or facilitating trading of event contracts to provide consumers with clear and accurate pricing information. The CFTC's Market Supervision and Market

Iraqi Oil Minister Bassem Muhammad Hudair said on August 8 that Iraq's oil exports have slumped 75% due to the closure of the Hormuz Strait. Iraq is currently negotiating with Iran to permit its oil exports, though the arrangement has not yet taken

According to the Central News Agency, on August 8, the U.S. Pentagon announced a $400 million conditional loan to Australian miner Sunrise Energy Metals to build the first major scandium mining facility in the Western world. The mine will be located in Fifield, New South Wales, approximately 450

According to Iraq's state news agency, the country's oil minister disclosed that Iraq is currently producing 2.7 million barrels per day, with approximately half of the output being exported.

According to Iraq's State News Agency, Iraq's oil minister stated today that Iraq is in negotiations with Iran to allow Iraqi oil exports, though related arrangements have not yet taken effect.

According to an NBC interview on August 6, U.S. Treasury Secretary Bessent said the Strait of Hormuz will become irrelevant to global energy transport, with over 50-70% of energy shipments currently passing through the waterway expected to shift to underground pipelines within two years. Bessent

According to Benzinga, U.S. non-farm employment fell 23,000 in July, contrary to expectations for a gain of 80,000, with the jobless rate declining to 4.1% from 4.2%. The unexpected weakness prompted markets to slash September rate hike probability from 58% to 42%, according to CME FedWatch

According to Libya's Zawiya refinery, a drone strike on Saturday targeted an unprocessed naphtha tank, causing a leak that has since been contained. The facility reported the incident but provided no details on the extent of damage or cause of the

According to The Wall Street Journal and Retail Dive, U.S. retailers are selling tariff refund rights at steep discounts to obtain immediate cash as government reimbursement processes remain slow. American Eagle Outfitters disclosed in its first-quarter 2026 report that it sold $68.9 million in tari