Commodities (Crude Oil & Copper) & Macro Outlook

According to ChainCatcher and Gate market data, crude oil futures declined sharply on August 2 as markets anticipated imminent U.S.-Iran negotiations. As of 7 p.m. ET on August 2, WTI September futures fell to $74.78 per barrel, down 6.96%, while Brent October futures dropped to $81.55 per barrel, d

According to OPEC Secretariat statement released August 2, seven OPEC+ member states—Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman—agreed to increase crude oil production by 188,000 barrels per day beginning September. The adjustment marks the completion of a phased reversal of v

The US Treasury and Japan's financial authorities conducted coordinated foreign exchange intervention to support the yen for the first time in 28 years. US Treasury Secretary Scott Bessent's memo, captured by cameras during a White House cabinet meeting, revealed plans to purchase $5 billion to $10

The Securities and Exchange Commission (SEC) granted CME Group's petition for review on July 29 and kept Nasdaq PHLX's bitcoin index options approval stayed while the full Commission considers the challenge. CME argues the cash-settled bitcoin index options should fall exclusively under Commodity

Brent crude futures plunged 6.7% during Monday's Asian trading session, following reports that former President Trump is pausing military action against Iran. Trump stated that the U.S. and Iran will hold negotiations on August 3. Meanwhile, S&P 500 index futures

According to The Block, on July 29, the SEC kept Nasdaq PHLX's bitcoin options approval on hold while granting CME Group's petition for review. The full Commission will consider CME's challenge, with written statements due Aug. 24. CME argues that bitcoin is a commodity falling exclusively under

Iran attacked two oil tankers passing through the Strait of Hormuz, triggering a surge in international oil prices with Brent crude hovering around the $90 level. The attack comes as OPEC+ member countries announced plans to increase crude oil production in September. Market observers are watching w

According to Financial Times citing FactSet data, S&P 500 companies' net profits are forecast to rise 47.4% in the second quarter of 2026. AI infrastructure investment gains have expanded beyond technology firms to multiple industries, while elevated energy prices bolster energy sector results.

Iran and Oman are close to finalizing a deal to manage commercial shipping through the Strait of Hormuz, a waterway that handles roughly 20 million barrels of oil per day, representing about 20% of global oil supply. Negotiations began in late July 2026, following an April 2026 draft protocol that p

Iran and Oman are nearing a deal to manage shipping through the Strait of Hormuz, a waterway handling roughly 20 million barrels of oil daily. Negotiations started in late July 2026, with Oman proposing a 50-50 split of transit lanes. Iranian Deputy Foreign Minister Kazem Gharibabadi rejected this p

According to Jin10, Ukrainian drones struck a Russian oil refinery operated by the Russian oil company in Saratov overnight on August 3, causing a fire. The facility is located approximately 730 kilometers southeast of Moscow and over 1,000 kilometers from Kyiv. Ukrainian forces also targeted a

On Sunday August 2, President Trump reshared a White House post about restarting California's Sable Pipeline under the Defense Production Act, while OPEC+ simultaneously agreed to pump an additional 188,000 barrels per day from September. However, neither action has yet eased prices; California

According to Iran's Foreign Ministry spokesperson Baghaei on August 3, the Strait of Hormuz will never return to its pre-war state. Baghaei stated that Iran's ongoing negotiations with Oman regarding the waterway concern bilateral interest protection mechanisms and are unrelated to the strait's

According to a statement from the Ukrainian Armed Forces General Staff on Telegram, Ukrainian forces struck Rosneft's oil refinery in Saratov overnight on August 1, igniting a fire at the facility. The statement also confirmed that Ukrainian military carried out simultaneous attacks on Engel's

According to PANews, Morgan Stanley China chief economist Xing Ziqiang outlined his latest views on August 2. Xing stated that recent AI sector volatility stems from crowded positioning, large tech company capital reallocation, and rising oil prices raising rate hike expectations—not from

According to CoinDesk, crypto exchanges' traditional asset perpetual futures trading volume reached $1.32 trillion in the first five months of 2026, far surpassing the full-year 2025 total of $104.21 billion, per CoinGecko data. Monthly volume grew from $230 million in January 2025 to $347.17 billio