Commodities (Crude Oil & Copper) & Macro Outlook

According to Kpler, daily vessel transits through the Strait of Hormuz declined consecutively from July 31 to August 2, with daily throughput at 23, 11, and 9 vessels respectively.

According to PANews, President Trump pressured oil companies to lower prices on August 3, stating: "Oil companies, lower your prices."

According to an official notification, India increased the windfall tax on gasoline exports from 2.5 rupees per liter to 3.5 rupees per liter effective August 3.

According to Jin10, Belgium sourced all its liquefied natural gas imports from Russia in July, amid supply disruptions in the Middle East due to regional conflicts. The country imported approximately 400,000 tonnes of LNG from Russia last month, according to vessel-tracking data compiled by market a

This week, the U.S. economy will face its first major test since the Federal Reserve's July decision to hold rates steady, with July nonfarm payrolls data due Friday. Economists surveyed by Reuters estimate 91,000 new jobs added and unemployment holding at 4.3%. If employment beats expectations,

According to TrendForce, PC-use DDR4 8Gb memory averaged $24 in July, marking its highest level since June 2016. Meanwhile, 128Gb MLC NAND flash averaged over $30 for the first time, setting a new record. The price surges reflect tightening supply as artificial intelligence servers and HBM

According to sources, Kazakhstan's July oil and condensate production declined 14% compared to June due to Caspian Pipeline Consortium export disruptions.

According to officials, Kuwait's crude oil output in July reached 1.97 million barrels per day, up approximately 300,000 barrels from June, marking the highest level since the Middle East conflict escalated. The country's production had fallen sharply during the crisis but remains about 20% below pr

According to Jin10, on August 3 at 20:30 Beijing time, WTI crude oil futures fell 8.85%, while U.S. natural gas futures rose 1.42%.

According to Ridgeworth Investments Chief Market Strategist Matt Orton, U.S. stock index futures rose on August 4 as oil prices fell and roughly 15% of S&P 500 component stocks prepare to release earnings this week. Orton highlighted that energy, healthcare, utilities, and industrial sectors

Iraq's Northern Oil Company said a fire at its Baiji refinery complex did not affect production. The company did not disclose additional details about the fire's cause, scale, or damage.

According to Jin10, August will see dense releases of key U.S. economic reports including non-farm payrolls, CPI, and PCE data, alongside USDA supply-demand reports and monthly updates from OPEC and IEA. Middle East developments and Chinese economic data releases are expected to continue shaping

Shanghai Futures Exchange and Shanghai International Energy Exchange will launch arbitrage instructions starting August 24, according to announcements on August 3. Arbitrage instructions on SHFE initially apply to copper, gold, rebar, and natural rubber futures, with minimum order size of 1 lot and

Gate News: According to the latest Gate TradFi data, XTIUSD (WTI Crude USOIL) has dropped by 8% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

According to Baotou Rare Earth, the company achieved batch sales of praseodymium metal in the first half of 2026 by opening a new application field for light rare earths in non-heavy rare earth permanent magnets, aligning with downstream magnetization enterprises' lightweight development

According to BlockBeats, international oil prices dropped sharply on August 3 as expectations of easing Middle East tensions drove trading. West Texas Intermediate (WTI) crude fell over 7%, while Brent crude declined over 5% to around $83 per barrel. Iran's Foreign Ministry announced that

According to Algeria's national oil company Sonatrach, well TG 16 at the Tiguentourine gas field experienced an uncontrolled gas leak on Sunday (August 2) during maintenance operations. No casualties were

According to Guangzhou Futures Exchange, uncertainty factors affecting market operations have increased recently, with significant price volatility in relevant contracts. The exchange urged market participants to strengthen risk management and participate in the market rationally and in

Germany's manufacturing sector recorded a Purchasing Managers' Index (PMI) final reading of 52.2 in July, matching the preliminary figure and rising from June's 50.3, according to S&P Global on the 3rd. The reading equaled the March record and marked the joint highest level since May 2022, driven