Commodities (Crude Oil & Copper) & Macro Outlook

Gate News: According to the latest Gate TradFi data, XTIUSD (WTI Crude USOIL) has dropped by 12% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

According to the German Chemical Industry Association (VCI), on May 29, the sector's first-quarter production fell 6% year-over-year, with producer prices dropping 1% and sales sliding 5.4%. The association warned that elevated energy, raw material, and transportation costs stemming from Middle

According to a Reuters survey, the average U.S. crude oil price for 2026 is projected at $84.63 per barrel, up from the April forecast of $80.07 per barrel, reflecting a roughly 5.7% increase in expectations.

According to Iran, 24 vessels passed through the Strait of Hormuz in the past 24 hours on May 29 under the coordination of the Islamic Revolutionary Guard Corps.

According to Iran, 24 vessels coordinated by the Iranian Revolutionary Guard Corps passed through the Strait of Hormuz in the past 24 hours on May 29.

According to the Shanghai Futures Exchange, effective June 2, 2026 (starting from the June 1 night session), intraday opening trading limits for fuel oil futures contracts FU2609, FU2610, FU2611, FU2612, FU2701, FU2702, FU2703, FU2704, FU2705, FU2706, and subsequent new contracts have been

According to Guru Club, WTI crude oil fell 2% intraday on May 29, trading at $89.24 per barrel.

According to Guru Club, on May 29, Shanghai Futures Exchange (SHFE) imposed restrictions on new position openings for a group of related accounts that exceeded daily intraday trading volume limits on derivatives contracts. The accounts violated the SHFE's Abnormal Trading Behavior Management Rules A

According to Germany's economy ministry spokesperson, natural gas storage levels have risen to 31% since last Wednesday, driven by market forces.

According to BlockBeats citing Hyperinsight, WTI crude oil has fallen approximately 17% since May 18 when Trump halted airstrikes on Iran. On Hyperliquid, a large trader's WTI short position with 20x leverage holding $22 million notional value opened at an average price of $88.90 on May 26 has

According to Commerzbank, the German lender forecasts Brent crude oil will reach $90 per barrel by the end of September before declining to $85 per barrel by year-end.

Intraday on May 29, Brent crude oil fell over 2% to trade at $90.55 per barrel, while WTI crude declined 1.8%.

According to Jin10, on May 29, Spain's agriculture minister called for the European Union to provide billions of euros in emergency funding to farmers grappling with soaring fertilizer costs linked to the Iran conflict. Spain has already launched a 500 million euro (approximately $580 million)

Brent crude touched $91 per barrel today, declining 1.55% during intraday trading.

According to Japan's Ministry of Economy, Trade and Industry, announced on May 29, Japan's domestic naphtha production totaled 906,660 thousand liters in April, down 22.8% year-over-year, according to the ministry's petroleum statistics

CME Group activated continuous twenty-four-seven trading for Bitcoin and Ether futures and options on its CME Globex platform, eliminating weekend and holiday market closures. The infrastructure upgrade addresses institutional demand for uninterrupted risk management, driven by three trillion

According to the Shanghai Futures Exchange (SHFE), on May 29, the exchange released its daily warehousing receipts update across 23 commodity futures contracts. Alumina inventory posted the largest decline, falling 15,610 tons to 436,720 tons; hot-rolled coil stock decreased 8,051 tons to 487,132 to

According to data from the Gulf Mercantile Exchange (GME), Oman crude oil's official selling price for July is $102 per barrel, down $2.73 from June's $104.73 per barrel.

According to the Shanghai Futures Exchange, this week copper inventory declined by 7,033 tonnes and lead inventory fell by 5,392 tonnes, while nickel inventory increased by 3,771 tonnes, natural rubber rose by 4,810 tonnes, and zinc gained 1,019 tonnes. Aluminum and tin inventories also moved

According to the European Central Bank's official blog article published on May 29, the ECB cited Iran's conflict as a potential driver of higher medium-term inflation expectations among eurozone consumers. The article noted that geopolitical tensions and prior energy price shocks have increased