Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, China's domestic airline fuel surcharges are being reduced from August 5. Airlines will now charge 70 yuan per adult passenger for flights over 800 kilometers and 40 yuan for flights of 800 kilometers or less, down 30 yuan and 10 yuan respectively from previous levels. This

According to Shanghai Securities News, recently polysilicon futures have risen amid policy implementation driving the phased elimination of energy-intensive backward capacity. Industry experts expect prices to recover toward cost lines by the fourth quarter, though the fundamental supply-demand

U.S. Treasury Secretary Janet Yellen said on August 4 that falling energy prices have eased concerns over excessive yen depreciation, which will help inflation decline and put the yen on a positive trajectory.

International oil prices plunged for a second consecutive day on the 4th (US Eastern time) as expectations grew that the Strait of Hormuz could reopen as early as this week. The decline came amid signs that military tensions between the United States and Iran were entering a lull. West Texas

According to CNBC, U.S. Treasury Secretary Scott Bessent said on August 4 that the U.S. and Iran could reach an agreement as soon as today or tomorrow to reopen the Strait of Hormuz and normalize relations following the pause in U.S.-Iran military tensions. WTI crude for September delivery

According to U.S. Secretary of State Marco Rubio and Iranian officials, negotiations on reopening the Strait of Hormuz are advancing. As of August 4, the U.S. military has rerouted 45 commercial vessels and disabled 2 others to enforce maritime compliance, according to U.S. Central Command. Iranian

From 20:30 to 20:45 (UTC) on August 4, 2026, BTC staged a short-term rebound over the 15-minute period, with a Return % of +0.41%. The price ranged from 64,135.2 to 64,423.7 USDT, with an Ampl of 0.45%. The market was in a state of extreme fear (Fear & Greed Index: 25), while 30-day implied volatility fell to its lowest level since May, indicating that the market is currently in a low-volatility accumulation phase. This price move was a modest recovery after negative factors had been fully price

Three major US stock indices closed higher for a fourth consecutive day on August 4 (US Eastern Time), with the Dow Jones Industrial Average rising 907.47 points (1.71%) to 54,085.88, the S&P 500 gaining 136.02 points (1.79%) to 7,736.52, and the Nasdaq Composite surging 671.10 points (2.59%) to 26,

U.S. heating oil inventory declined 118,000 barrels for the week ending July 31, compared to a decrease of 125,000 barrels in the prior week, indicating a narrowing in the pace of stock drawdown.

According to the American Petroleum Institute (API), U.S. crude oil production declined 112,000 barrels per day for the week ending July 31, compared to 93,000 barrels per day in the prior week.

U.S. crude oil inventories fell by 2.69 million barrels in the week ending July 31, according to data from the American Petroleum Institute (API). The decline compared to analyst expectations of a 2 million barrel decrease and the previous week's 3.296 million barrel

Brent crude oil fell 6.0% intraday on August 4, trading at $78.74 per barrel.

According to U.S. Energy Secretary Wright, fuel prices should decline over the coming weeks.

At 04:30 Beijing time today, the American Petroleum Institute (API) will release its weekly crude oil inventory report. Non-API members can access the detailed data starting around 04:32 Beijing time.

According to Jin10, on August 4, crude oil prices fell sharply. WTI crude futures for September delivery fell 4.57 dollars to close at 75.77 per barrel, down 5.69%, while Brent crude futures for October delivery fell 4.41 dollars to 79.36 per barrel, down 5.26%.

According to ICE data, agricultural commodity futures showed mixed strength on Tuesday (August 4) as New York session closed. Arabica coffee futures gained 1.11%, while Robusta coffee futures surged 2.06%. Raw sugar futures rose 0.33%, and white sugar futures climbed 0.68%. New York cocoa futures

According to Yonhapnews, on August 4, Brent crude futures for October delivery fell 5.3% to $79.36 per barrel following progress in U.S.-Iran negotiations over Strait of Hormuz transit. WTI crude futures for September delivery also declined significantly, with

According to the Bloomberg Commodity Index, CBOT grain futures declined on Tuesday, August 4. Chicago wheat futures fell 2.11% to $6.38 per bushel, while corn futures dropped 1.53% to $4.6525 per bushel. Soybean futures declined 1.26% to $11.7725 per bushel. The Bloomberg Grains Index itself fell 1.

According to the UK Telegraph, Iran is considering a proposal to charge European countries fees for maintaining the Strait of Hormuz under a "voluntary fund" mechanism supported by Gulf states and European members of the

According to La Stampa, Italy's cabinet extended diesel tax relief measures through August 25 on August 5. The exemption maintains a reduction of €0.17 per liter including VAT during peak summer travel season. Gasoline remains excluded from the relief