Commodities (Crude Oil & Copper) & Macro Outlook

According to Zijin Tianfeng Futures research on June 2, crude oil prices fell sharply due to easing geopolitical tensions, triggering declines across petrochemical products including PP and PE. While upstream profit margins have recovered, downstream demand remains weak with multiple processing

According to CEO statement, Dangote will add 700,000 barrels per day of refining capacity by the end of 2028.

According to ICE data, cocoa futures in New York rose 7.8% on Monday (June 2), the first gain in five trading days, as U.S. certified inventory at ports fell below 290,000 bags—a decline of over 50% from the previous week. London cocoa futures also rose 7.3%.

According to the Financial Times, the Abu Dhabi National Oil Company (ADNOC) plans to construct an oil products pipeline that would bypass the Strait of Hormuz.

According to sources, Russia's western ports saw a 15% month-on-month increase in oil exports in May, rebounding from disruptions caused by prior drone strikes on refinery operations.

According to South Korea's Ministry of Industry, the country plans to import 16 million barrels of crude oil from Canada in 2026, a significant increase from 4.9 million barrels imported in 2025.

According to Iranian media, on June 2, Iran's maritime authority opened a vessel transit permit application system for the Strait of Hormuz. Ship owners and captains can submit transit applications through the electronic system 24 hours a day, and vessels will receive permits after

According to JPMorgan Chase on June 2, the probability of the Strait of Hormuz reopening within June is extremely low, with current oil prices already pricing in overly optimistic expectations. Brent crude is currently trading near $95 per barrel. The bank's strategy report warns of significant

According to sources, the Canada Pension Plan Investment Board (CPPIB) is among institutions expected to submit an expression of interest in Uniper next week.

LME 3-month zinc reached $3,635 per ton, marking its highest level since August 2022, with an increase of 1.6% in the latest trading session.

Italian oil company Eni announced that its Karachaganak oil field will undergo scheduled maintenance in September.

According to Politico citing diplomatic sources, the European Union is considering freezing its price cap on Russian oil at current levels instead of adjusting it with market fluctuations. The move aims to prevent Russia from benefiting further as international crude prices rise. While the EU is

According to the Oxford Institute for Energy Studies, oil supply losses in the Persian Gulf caused by Middle East conflict could exceed 2 billion barrels by year-end on June 2. Bassam Fattouh, the institute's director, stated at the S&P Global Middle East Oil & Gas Conference in London: 'Based on ou

According to Guru Club, LME three-month lead futures rose 1.1% to $2,028.50 per tonne on June 2, marking the highest level since January 29.

Kalshi has filed with the Commodity Futures Trading Commission (CFTC) to self-certify perpetual futures contracts tied to XRP, Solana, Dogecoin and several other cryptocurrencies. The filing comes days after the CFTC approved Kalshi's Bitcoin perpetual futures product, signaling growing momentum

According to market reports, Colombia's oil workers union announced a 24-hour strike. The strike details, including start date and scope, were not immediately specified.

Gate News: According to the latest Gate TradFi data, XTIUSD (WTI Crude USOIL) has surged by 6% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

According to Kpler, India's fuel exports fell to 878,000 barrels per day in May, marking the lowest level since October 2022. This represented a 31% decline compared with the same period last year. The drop was driven by domestic supply priorities and maintenance work at refineries that

According to the International Energy Agency, the reopening of the Strait of Hormuz could take 6 to 8 months at best under optimal conditions, the agency's head of oil policy stated on June 2.

According to an International Energy Agency (IEA) official, another coordinated emergency oil reserve release is possible, though no such discussion took place today (June 2). The IEA has previously coordinated strategic petroleum reserve releases to address market supply