Commodities (Crude Oil & Copper) & Macro Outlook

According to Shanghai Steel Union data, as of June 1, tantalum ingot prices have risen 157.69% year-to-date, while germanium ingot prices jumped 83.82% and molybdenum iron prices increased 35.65% compared to end-2025 levels. The price surge reflects tight supply constraints and expanding demand

According to BlockBeats and Axios, on June 2, President Trump clashed with Israeli Prime Minister Netanyahu over military escalation in Lebanon, while Iran suspended U.S. negotiations amid the conflict. Trump demanded Netanyahu halt planned attacks on Beirut and stated he had secured agreement

According to shipping data, container freight index futures surged on June 1, with the June 2607 contract peaking 13.08% intraday and closing up 11.69%. The contract has climbed for seven consecutive weeks since late April, accumulating a 60.78% gain. In the spot market, current freight rates are

According to ABC News, on June 2, President Trump said a deal with Iran aimed at extending a ceasefire and reopening the Strait of Hormuz would likely be reached within the coming week. Trump acknowledged a minor setback today related to Iran's dissatisfaction with Israeli strikes on Lebanon, but sa

According to Guru Club, WTI crude oil futures for July delivery rose 5.49% to $92.16 per barrel on June 2. Brent crude oil futures for August delivery gained 4.24% to close at $94.98 per barrel, while Abu Dhabi Murban crude oil futures climbed 4.86% to $94.43 per barrel.

Canada's trade minister Dominic LeBlanc met with oil and gas industry leaders ahead of upcoming talks with U.S. Trade Representative Katherine Girard in Washington, with his office emphasizing the importance of maintaining an integrated North American energy market. The discussions focused on prese

According to Jin10, on June 2, Japan's naphtha stocks plunged 25% this year as shipping through the Strait of Hormuz remains blocked, cutting off one-fifth of global oil supplies. Japan imports roughly 1 million tons of bananas annually and relies on naphtha-derived ethylene gas to ripen them

According to ABC News, President Trump said he plans to reach an agreement with Iran within one week to extend the ceasefire period and reopen the Strait of Hormuz.

According to Jin10 data tracking, on June 2, Iran's Revolutionary Guards announced retaliatory operations against US-Israeli targets, using cruise missiles to strike facilities. The U.S. military stated it conducted defensive strikes on Iranian drone command centers and intercepted two Iranian missi

Rosneft reported Q1 2026 revenues of 2.032 trillion rubles, up 4.3% from the previous quarter. Net profit for the period reached 115 billion rubles, representing a seven-fold increase compared to Q4 2025.

According to Rosneft, the Russian oil company's first-quarter oil and natural gas condensate production totaled 3.74 million barrels per day, declining 0.4% compared to the previous quarter.

According to U.S. Department of Energy data released this week, the nation's strategic petroleum reserve fell to 357.1 million barrels, the lowest level since January 2024. The Trump administration continues large-scale releases to address energy supply concerns stemming from U.S.-Iran tensions

On Monday (June 1), U.S. real estate ETF declined 1.68%, gold ETF fell 1.40%, and Russell 2000 index ETF dropped 0.50%. Meanwhile, emerging markets ETF rose 2.16%, Nasdaq-100 ETF gained 0.60%, S&P 500 ETF increased 0.27%, and the Brent crude oil fund surged 3.76%. U.S. long-duration Treasury ETF and

According to Jin10, Iran's Islamic Revolutionary Guards Corps Quds Force commander Kani stated on June 1 that Israeli military operations in Lebanon and Gaza, supported by the U.S., will prompt the resistance axis to expand support and "activate" additional fronts. Kani indicated that shipping

Inflation around the globe is becoming a dominant factor in financial conduct, and energy markets are significant contributors to this phenomenon. The changes in oil prices have an impact on the cost of production, and in most cases, they can cause inflation in most economies. Therefore, the

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

According to CNBC, U.S. President Trump said on Monday he does not care whether Iran negotiations end, and expressed confidence that oil prices will decline sharply in the near term. When asked about reports that Iranian negotiators halted communication with the U.S. over Israel's military

According to Bloomberg commodity data, on Monday, June 1 at New York close, CBOT soybean meal futures fell 0.97%, while soybean oil futures rose 1.70%. CBOT soybean futures declined 0.46% to $11.8125 per bushel. The Bloomberg Grains Index fell 0.49% to 30.9820, with corn

WTI July crude oil futures rose $4.80, or 5.49%, to close at $92.16 per barrel today. Abu Dhabi Murban crude futures gained 4.86% to $94.43 per barrel, with an intraday peak of $96.78 at 22:33 Beijing time.

At 2:30 close of overnight trading on June 1, Shanghai gold futures fell 1.28%, Shanghai silver futures declined 0.73%, and SC crude oil futures rose 3.57%.