Commodities (Crude Oil & Copper) & Macro Outlook

On Wednesday (June 3), COMEX gold futures fell 1.34% to $4,459.40 per ounce during New York's closing session, trading between $4,525.10 and $4,454. Spot gold declined 1.23% to $4,433.51 per ounce. COMEX silver futures fell 3.50% to $72.91 per ounce, while COMEX copper futures dropped 2.98% to $6.4

According to Jin10 data, on June 3, WTI light sweet crude oil futures for July delivery rose $2.26 to close at $96.02 per barrel, up 2.41%. Brent crude oil futures for August delivery gained $1.81 to $97.81 per barrel,

According to Bloomberg, Raízen SA, a struggling Brazilian sugarcane and ethanol producer, recently received informal support from the majority of creditors for a $13 billion out-of-court debt restructuring proposal. The company proposed three repayment options for creditors, including

According to Bloomberg commodity data, on Wednesday (June 3), CBOT wheat futures fell 2.69% to $5.8675 per bushel and corn futures declined 2.21% to $4.3075 per bushel during New York afternoon trading. The Bloomberg grain index dropped 1.73% to 30.0978 points. CBOT soybeans fell 1.03% to $11.5350 p

Shanghai gold futures fell 0.74% and Shanghai silver futures declined 2.24% at the night session close at 2:30 AM on June 3, while SC crude oil futures rose 1.16% in the same period.

According to CoinGecko, on Wednesday, Bitcoin fell to $65,590, its lowest price since late March, as military conflict in the Middle East drove oil prices higher and stoked investor concerns about inflation. Ethereum and Solana declined about 5% each to $1,830 and $72, respectively. U.S. Central Co

According to Bloomberg, a Swiss institutional investor managing over $270 billion in assets is halting purchases of bonds issued by major oil and gas producers. The decision follows recommendations from the Swiss Association for Responsible Investment (SVVK-ASIR), which has proposed blacklisting

International copper declined 1.05% overnight during night session trading on June 3. Shanghai nickel fell 1.94%, the largest drop among major metal contracts, while Shanghai aluminum and stainless steel also retreated 1.14% and 1.89%

According to LME data, major base metal futures retreated today (June 3). Copper fell $216 to $13,825 per ton, aluminum dropped $49 to $3,704, zinc declined $31 to $3,610, and lead fell $21 to $2,024. Nickel retreated $377 to $18,871, while tin dropped $552 to $57,408. Cobalt held flat at $56,290 pe

The Dow Jones Industrial Average fell roughly 318 points, or 0.62%, as of writing on Wednesday, while the S&P 500 dropped 0.38% and the Nasdaq Composite declined 0.45%. The declines followed a surge in oil prices after U.S. military forces conducted strikes on Iran's Qeshm Island in response to

According to Mexico's Economy Ministry, trade compliant with the U.S.-Mexico-Canada Agreement (USMCA) will be exempt from proposed U.S. tariffs related to forced labor. The proposed tariffs will also exclude automobiles, steel, and aluminum products. Mexico plans to hold formal discussions with the

According to a report from Huawen Futures cited by Jin10 on June 3, China's refinery operating rates continued to decline amid heightened Middle East geopolitical tensions and lower prospects for Hormuz Strait traffic recovery. The tightening fuel oil supply contrasts with weakening domestic

According to Kalshi's announcement on X, the prediction market platform has launched Bitcoin perpetual futures, marking the first CFTC-approved BTC perpetual product in the United States. The U.S. Commodity Futures Trading Commission previously reviewed the BTCPERP contract and confirmed it

According to Reuters, Russia's Saratov refinery came under drone attack and suspended operations on May 31. The facility has remained offline following the strike.

According to the U.S. Energy Information Administration, U.S. commercial crude oil inventories fell 7.974 million barrels to 434 million barrels for the week ending May 29, marking the sixth consecutive weekly decline. The stockpile level sits approximately 3% below the five-year average, while

According to Owain Johnson, head of global research and product development at CME Group, liquefied natural gas (LNG) trading has become a key driver of growth in Henry Hub natural gas futures and options in Europe. The exchange saw a 10% increase in Henry Hub futures volume in Europe over the

According to EIA data, U.S. crude oil production demand implied value rose to 21.243 million barrels per day for the week ended May 29, compared to 19.402 million barrels per day in the previous week, representing an increase of

According to the EIA, distillate fuel production fell to 5.0864 million barrels per day for the week ended May 29, down from 5.51 million bbl/d in the prior week.

U.S. heating oil inventories fell to 255,000 barrels in the week ending May 29, according to the Energy Information Administration (EIA), down from 306,000 barrels in the previous week.