Commodities (Crude Oil & Copper) & Macro Outlook

According to Guru Club, polysilicon main contract futures hit the daily limit up on August 3, rising 9% to 35,890 yuan per ton.

Energy Secretary Sharon Garin announced on August 3 that fuel prices in the Philippines will decrease starting August 4, with gasoline rolling back by P0.73 per liter, diesel by P0.60 per liter, and kerosene by P2.09 per liter. The rollback follows consecutive weeks of steep price increases driven b

According to Energy Secretary Sharon Garin, the Philippines will implement fuel price rollbacks beginning Tuesday, August 4. Gasoline will drop P0.73 per liter, diesel P0.60 per liter, and kerosene P2.09 per liter. The rollback follows weeks of significant price hikes driven by surging global

According to OPEC+, the organization agreed on August 3 to increase crude oil production quotas for September by 188,000 barrels per day. The decision aims to support market stability amid ongoing global energy

According to Jin10 Futures, Canada canola futures fell 8.09% today (August 3), retreating from three-year highs reached last week amid declines in crude oil and Chicago soybean oil futures, with long positions taking profits ahead of month-end. Zhengzhou rapeseed meal futures opened higher before co

According to PPP prediction market tool on Polymarket, the probability of WTI crude oil falling to $75 per barrel in August has risen to 77%, up 11% in the past 24 hours. The probability of a decline to $70 per barrel increased to 45%, up 12% over the same period. WTI crude is currently trading

On August 3, 2026, the global energy market saw a sharp reversal. Over the previous few weeks, the situation in the Middle East continued to escalate. Since February 28, when the United States launched a military action against Iran together with Israel, the conflict has lasted for more than five months. The Strait of Hormuz—an essential chokepoint that typically carries about one-fifth of the world’s crude oil and liquefied natural gas shipments—saw shipping disruptions multiple times. In July,

Iraq's State Organization for Marketing of Oil (SOMO) has requested long-term buyers to place orders for Basra crude oil scheduled for August shipments.

LX International reported Q2 operating profit of 117.8 billion won, a 114.2% increase from the same period last year, and revenue of 4.7763 trillion won, up 24.7% year-over-year, both surpassing analyst expectations. The earnings growth was driven by rising maritime freight rates, increased cargo

South Korean government bond yields showed mixed movements on the morning of the 3rd, with the 3-year benchmark falling 0.9 basis points to 3.751% while the 30-year yield rose 1.4bp to 4.522%. The divergence reflected a supply-demand standoff between domestic institutions selling holdings ahead of t

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

Reuters, citing two officials, said Japan could officially announce a joint currency-rate action with the United States on August 3, and the action is still ongoing. Finance Minister Satsuki Katayama is expected to make a statement, and Atsushi Mimura, the chief foreign-exchange policy adviser to the Ministry of Finance, said the ministry is closely coordinating with and operating alongside the monetary-policy divisions. Bitcoin trades near $63,000, and yen volatility could spill over into risk

According to Italy's Defense Ministry, Italian naval forces intercepted a sanctioned Russian oil tanker west of Pantelleria in the Mediterranean on August 2. The ship's captain refused to cooperate, prompting Italian military personnel to board and inspect the vessel. The operation was supported

Samsung Heavy Industries secured a 2,680 billion won contract for two crude oil carriers from a European shipowner, the company disclosed on the 3rd, with delivery scheduled by August 2029. The contract enabled Samsung Heavy Industries to achieve its commercial ship order target for the year ahead o

According to Yonhapinfomax, Samsung Heavy Industries [010140] secured two oil tankers from a European shipowner for 268 billion Korean won (approximately $20.6 million) on August 3, with delivery scheduled by August 2029. The order brings Samsung's accumulated commercial shipbuilding contracts to 5

According to Guru Club, urea futures main contract dropped over 4% on August 3, trading at 1,661 yuan per ton.

S-Oil stated during its Q2 earnings call held on the 3rd that differing interests among companies are delaying the finalization of the government's petrochemical restructuring plan. The company emphasized that its Shaheen project possesses high competitiveness due to very low costs, distinguishing i

According to YonhapInfomax, S-Oil reported second-quarter 2026 revenue of 11.34 trillion won and operating profit of 965 billion won on August 3. The petrochemical division posted a loss of 44.8 billion won, while the lubricants segment hit a record profit of 477.4 billion won, offsetting declines f

According to S-Oil's second-quarter earnings call on August 3, the South Korean oil company confirmed that the Shaheen project will begin commercial operations in early 2027, with preliminary and commissioning tests ongoing. The company aims to complete the startup scheduled for the second half with