Commodities (Crude Oil & Copper) & Macro Outlook

According to Tasnim News Agency citing military sources, an American oil tanker attempting to transit the Strait of Hormuz with its radar system disabled came under fire from Iran's Islamic Revolutionary Guard Corps (IRGC) Navy earlier today and was forced to turn

According to Guru Club, on May 28, China's commodity futures market opened with mixed performance. Seaborne freight Europe route, PTA, polyvinyl chloride (PVC), coking coal, p-xylene, and short-fiber polymers rose more than 2%, while coke gained nearly 2% and bottle-grade polyester chip added

On May 28, Bitcoin fell by about 2.8%, touching a weekly low of $74,530. Reuters reported that a U.S. official, who requested anonymity, said that the U.S. military launched a new round of strikes overnight on Wednesday against an Iranian military base, which the authorities have officially identified as posing a threat to U.S. forces and commercial shipping through the Strait of Hormuz. The U.S. military also intercepted and shot down multiple Iranian drones. In the same period, on-chain data s

WTI crude oil reached $93 per barrel today, up 1.16% intraday. Brent crude oil rose above 1.00% to trade at $93.77 per barrel.

According to Lane, ECB Chief Economist, Europe's experience with energy shocks reveals non-linear characteristics that offer lessons for the U.S. The ECB noted that past energy disruptions displayed non-linear mechanisms, particularly when inflation becomes very high, triggering various cascading ef

According to Jin10 Futures, on May 28, the PX market is anticipated to trade with weakness despite tight downstream supply pushing prices higher. Fundamental conditions remain soft, supporting a consolidation bias for the

Federal Reserve Vice Chair Jefferson expects inflation to weaken later this year as the impact of tariffs and elevated energy prices diminishes.

According to Guru Club, crude oil futures plunged over 9% overnight on May 24 Beijing time, with both WTI and Brent crude sliding sharply by 5:20 UTC. In response, major cryptocurrencies surged; Bitcoin rose 1% to $76,655, while over 120,000 traders faced liquidations across crypto markets in the

On Wednesday, CBOT corn futures closed lower, with the benchmark contract declining 1.1% to reach a one-month low. The decline was driven by a 4% drop in crude oil prices following reports of preliminary negotiations between Iran and the U.S. on conflict resolution and reopening the Strait of

According to reports, CBOT soybean futures closed with mixed results on Wednesday (May 27), with the benchmark contract down 0.1%, reflecting a near-term weakness and long-term strength pattern. Spring planting pace exceeded historical averages and crude oil futures declined 5% following reports

According to BlockBeats, President Trump stated on May 28 that the Strait of Hormuz will remain open to all and will not be controlled by any nation, regardless of any agreement reached with Iran. Trump emphasized that the U.S. will provide oversight of the strait but no single country will have

According to commodity trading data, on May 28, commodity funds net sold CBOT corn and wheat futures contracts while net buying soybean meal and soybean oil futures. Net sales of corn futures reached 11,000 contracts.

According to Mysteel's latest survey as of May 27, since May 23, a total of 129 coal mines in Shanxi province have been suspended, of which 16 have resumed operations (producing 20.7 million tons capacity combined). The remaining 113 suspended mines hold 125 million tons of capacity, impacting

According to analysts reported by Securities Daily, lithium carbonate prices rose over 60% year-to-date as of May 27, with the main futures contract on the Guangzhou Futures Exchange closing at 173,000 yuan/ton. Analysts attribute the rally to combined supply-side disruptions and

WTI crude futures touched $90 per barrel today, rising 1.49% intraday.

According to Guru Club, WTI July crude oil futures fell 5.55% to $88.68 per barrel on May 28, while Brent July crude oil futures declined 5.31% to $94.29 per barrel. Abu Dhabi Murban crude oil futures also dropped 3.76% to $91.48 per barrel.

According to API data, U.S. gasoline imports fell to -171,000 barrels per day for the week ending May 22, shifting from the prior week's 282,000 bpd—a swing of 453,000 barrels per day.

According to the American Petroleum Institute (API), U.S. crude oil production rose to 629,000 barrels per day in the week ending May 22, compared to a decline of 78,000 barrels per day in the prior week.

According to API data, U.S. crude oil imports fell by 223,000 barrels for the week ending May 22, compared to a decline of 88,000 barrels in the prior week.

According to the American Petroleum Institute (API), U.S. crude oil inventory fell by 2.819 million barrels last week, compared to a decline of 9.11 million barrels in the previous week.