Commodities (Crude Oil & Copper) & Macro Outlook

According to Madison Cartwright, an analyst at Australian Federal Bank, U.S.-Iran negotiations remain fragile despite recent diplomatic momentum. In a research report, Cartwright stated that while there is potential for an agreement to reopen the Strait of Hormuz, key details remain unclear. The ana

According to traders citing market data, Russian Urals crude oil supplies to Turkey fell to their lowest level in approximately 18 months during May.

According to Guru Club, Chinese Premier Li Qiang visited Zhoushan and Ningbo in Zhejiang province from May 25 to 27, emphasizing the need to strengthen commodity and strategic reserves, enhance supply chain resilience, and accelerate the construction of a bulk commodity resource allocation hub to en

According to state media, during a May 25-27 inspection of Zhejiang, Premier Li Qiang called for exploring futures-spot linkage operations and enhancing the international influence of China's commodity price formation mechanism. During his visit to the Zhejiang International Commodities Trading

According to Capitaeconomics economists on May 27, concerns that the Iran conflict will trigger sustained inflation and spark a global tightening cycle appear overdone. The economists noted that while developed economies' inflation is expected to rise to 3-4%, the risk of sustained second-round

According to CCTV News, Russia's Foreign Ministry threatened today to suspend or terminate its energy and diamond supply agreement with Armenia if the country continues pursuing European Union membership. The Foreign Ministry formally notified Armenia that should it proceed with EU integration, Russ

According to Russian Foreign Ministry spokesperson Zakharova, Russia formally notified Armenia on May 27 that it will suspend or terminate oil and gas supply agreements if Armenia continues its European Union integration process. The Russian Embassy in Armenia has transmitted an official letter

The Wall Street Journal issued a correction on May 26, stating that the U.S. had not resumed Operation Prosperity Guardian. According to a U.S. Central Command spokesperson, the media's prior report inaccurately described a U.S. Navy escort of a Greek supertanker carrying 2 million barrels of

According to the Japan Petroleum Association (PAJ), Japan's commercial crude oil inventories increased by 489,137 kiloliters to 9.4797 million kiloliters for the week ended May 23, as reported on May 27. The refinery operating capacity (BPSD) utilization rate rose to 82.1% from 80.3% in the prior we

According to two government officials, India's rice exports declined 1.3% year-on-year to 8.39 million tons in January–April 2026, as the Iran conflict disrupted shipments of premium basmati rice to Gulf markets. The export contraction will intensify downward pressure on domestic rice prices. India

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

According to Jin10, Beijing Kerrui signed cooperation and system purchase agreements with global energy storage provider T Company on May 26, 2026. Under the agreements, the company committed to purchase at least 200MWh of energy storage systems annually through 2028, with each year's commitment

According to Jin10, China National Offshore Oil Corporation announced on May 27 that the Kenli 10-2 oil field group development project (Phase 1)—China's largest shallow-formation oilfield in the Bohai Sea—has commenced full production. Located in southern Bohai waters, the field holds proven

WTI crude oil declined 4.00% intraday to $92.43 per barrel, while Brent crude fell 3.7% on May 27.

According to Jin10, on May 27, Shanghai Futures Exchange released its daily warehouse receipt data across 23 commodity contracts. Notable changes included alumina futures inventory declining by 466,471 tons to zero, hot-rolled coil dropping 20,558 tons to 517,427 tons, and crude oil futures

According to Mysteel's latest survey, 129 coal mines in Shanxi province have halted operations since May 23 (excluding previously idled mines), with 16 resuming production as of now. The resumed mines account for 21.07 million tons of capacity; 113 mines remain offline with combined capacity of 125

According to Guru Club, WTI crude oil futures fell over 3% to $91 per barrel on May 27, while Brent crude futures declined 2.4% to $94.33 per barrel.

According to Jin10 Futures, as of the week ended May 25, total refined oil inventories at Fujairah port in the UAE declined by 1.074 million barrels to 5.519 million barrels. Light distillates fell 0.138 million barrels to 2.358 million, middle distillates decreased 0.067 million to 1.122 million, a

According to Jin10 Futures, fuel oil futures warehouse inventory declined to 45,160 tonnes on May 27, down 2,000 tonnes from the previous trading day. Other energy and chemical futures warehouse inventory remained unchanged, including pulp, coated paper, petroleum asphalt, medium sour crude oil, and

WTI crude oil fell below $94 per barrel today (May 27), with intraday losses of 2.38%.