Commodities (Crude Oil & Copper) & Macro Outlook

India's government announced on May 31 that it will impose an export tariff of 1.5 rupees per liter on gasoline, effective from June 1, 2026.

According to Jin10, Shanghai Gold futures closed up 1.61% to 996 yuan per gram, Shanghai Silver futures rose 0.64% to 18,323 yuan per kilogram, and SC Crude Oil futures fell 1.61% to 580 yuan per barrel on May 30, as of 2:30 a.m.

According to the Intercontinental Exchange (ICE), speculators in Brent crude oil reduced their net long positions by 56,568 contracts during the week ending May 26, bringing the total to 278,720 contracts.

The policies of global oil markets affect the stability of the worldwide economy and determine its inflation patterns. Oil choices have spillover effects across all large industries because production and transport incur costs that are influenced by energy prices. Financial markets are changing

According to the American Automobile Association, U.S. national average gasoline retail price fell to $4.35 per gallon on May 30, down 4 cents from the previous day and 17 cents from a week earlier. The price remains 46% higher than levels before the Iran

The number of natural gas drilling rigs in the United States held steady at 125 for the week ending May 29, unchanged from the previous week.

According to Baker Hughes, U.S. drilling companies increased their combined oil and gas rig count for the sixth consecutive week.

U.S. oil drilling rigs totaled 429 for the week ended May 29, up four from the prior week's 425, according to standard oil rig count data.

The U.S. oil rig count for the week through May 29 will be released in approximately 10 minutes. Baker Hughes publishes the figure every Friday as a key indicator of drilling activity in the American energy

According to the U.S. Energy Information Administration, distillate fuel oil demand in the United States rose 0.3% year-over-year in March to 3.904 million barrels per day, compared to a 5.4% increase in

According to the U.S. Energy Information Administration, U.S. gasoline demand rose 1.0% year-over-year in March to 8.853 million barrels per day. This marked a reversal from February, when demand declined 1.1% compared to the prior year.

According to the U.S. Energy Information Administration, American oil demand in March reached 20.383 million barrels per day, representing a 2.2% year-over-year increase. This marks a slowdown from February's 4.5% year-over-year growth

According to the U.S. Energy Information Administration (EIA), U.S. refining oil supply fell to 3.9 million barrels per day in March, marking the lowest level since December 2025.

According to the U.S. Energy Information Administration (EIA), New Mexico's crude oil production remained stable at 2.31 million barrels per day in March.

According to U.S. Energy Information Administration data, American refined product exports rose to 3.409 million barrels per day in March, up from 2.986 million barrels per day in February, representing a month-over-month increase of 0.423 million barrels per day.

According to the U.S. Energy Information Administration, U.S. gasoline exports fell to 0.803 million barrels per day in March, down from 0.865 million barrels per day in February.

According to the U.S. Energy Information Administration, American distillate fuel exports rose to 1.341 million barrels per day in March, up from 1.141 million barrels per day in February.

According to CCTV Finance, tin prices surged to 420,000 yuan per ton on May 31, up 40% from 300,000 yuan in November 2025, marking historic highs. The metal is a critical material in advanced semiconductor packaging due to its superior conductivity, low melting point, and strong soldering

According to the Democratic Republic of Congo's Ministry of Mines, in a recent cabinet meeting, the government designated lithium, tantalum, niobium, tungsten, uranium, and rare earths as strategic minerals. Under the country's mining law, strategic minerals are subject to a 10% royalty fee,

According to Cointelegraph, CME Bitcoin futures implement 24/7 trading starting May 29, 2026, ending the weekend gaps (CME Gap) that have historically served as short-term technical indicators. The market recently completed the most recent weekly Bitcoin CME gap fill, with prices now hovering