Commodities (Crude Oil & Copper) & Macro Outlook

According to EIA data, U.S. crude oil inventories declined 3.327 million barrels for the week of May 22, below the forecast decline of 3 million barrels. The prior week's inventory reduction was 7.863 million barrels.

According to the U.S. Energy Information Administration, the week of May 22 saw refinery equipment utilization increase 2.9%, exceeding economist forecasts of 0.8%. The previous week's reading showed a decline of 0.1%.

According to the U.S. Energy Information Administration (EIA), American gasoline inventories fell by 2.572 million barrels in the week of May 22, surpassing the expected decline of 2.287 million barrels and the prior week's decrease of 1.548 million barrels.

According to EIA data, Cushing crude inventories fell 2.794 million barrels for the week of May 22, compared to a decline of 1.604 million barrels the previous week.

The U.S. Energy Information Administration (EIA) will release its weekly government crude oil inventory report at 00:00 Beijing time today.

Gate News: According to the latest Gate TradFi data, NG (Natural Gas) has surged by 6% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

U.S. natural gas futures extended gains, rising more than 5% this week, driven by slower-than-expected inventory increases and forecast demand higher than previously projected for the next two weeks.

According to Jin10 Futures and Zijin Tianfeng Futures, Singapore high-sulfur fuel oil weakened this week as shipping fuel demand remained soft. The high-low sulfur spread continued to widen. Recent arrival of sanctioned-origin cargoes eased prior supply tightness, while Russian supplies to Singapore

According to Zijin Tianfeng Futures research dated May 28, Singapore's low-sulfur fuel oil arrivals increased due to unstable operations at the Dangote refinery (DRCC) and intra-Asia cargo redistribution, easing earlier supply tightness. Domestic Chinese LSFO supply-demand dynamics remained

According to Jin10, three Russian shadow fleet tankers were targeted by drones overnight on May 27-28 off Turkey's Black Sea coast. The Altura and Velora, sanctioned oil tankers managed by Turkish operators, came under attack while conducting ship-to-ship cargo transfer operations. Both vessels had

According to the U.S. Energy Information Administration, natural gas inventories declined by 92 billion cubic feet for the week ended May 22, falling short of the forecasted draw of 95 billion cubic feet and compared to the prior week's decline of 101 billion cubic feet.

According to the U.S. Energy Information Administration (EIA), American natural gas inventories increased by 92 billion cubic feet last week, slightly below analyst expectations of 95 billion cubic feet. The weekly gain represents a 3.85% increase, bringing total stockpiles to 24.8 trillion cubic fe

WTI crude oil fell below $90 per barrel today, declining 2.50% intraday.

According to Interfax, Kazakhstan said recently that resuming oil transit from Russia through the Friendship pipeline is technically unfeasible.

According to Total's CEO, the company's oil traders significantly increased purchases of Middle Eastern oil in February following observations of U.S. Navy vessels gathering in the Persian Gulf.

The South African Reserve Bank (SARB) projects fuel inflation will reach 15.6% in 2026, according to its latest monetary policy assessment.

Gate News: According to the latest Gate TradFi data, OJUICE (Orange Juice) has dropped by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

U.S. and Iranian forces conducted overnight strikes on May 28, triggering a sharp global market reaction. Gold prices fell below $4,400 USD, crude oil jumped 4%, and software company Snowflake surged nearly 35% in pre-market trading. Broader equity indices faced pressure amid heightened

According to China Securities Journal, Zimbabwe formally classified 14 minerals including lithium, nickel, cobalt, and graphite as critical materials subject to equity controls and export restrictions, establishing mandatory state ownership stakes through designated special purpose vehicles.

According to Guru Club, on May 28, China's National Development and Reform Commission (NDRC) convened a video conference to arrange deployment of nationwide energy supply work for the peak summer season. The meeting required fully securing energy production and supply of coal and natural gas,