Commodities (Crude Oil & Copper) & Macro Outlook

According to Guru Club, crude oil prices extended their decline on May 22, with both West Texas Intermediate (WTI) and Brent crude falling over $1. WTI crude was trading at $99.67 per barrel, while Brent crude was at $100.12 per barrel.

Gate News: According to the latest Gate TradFi data, COCOA (Cocoa) has dropped by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

According to Jin10 Futures, on May 22, lithium carbonate prices declined 2,000 yuan per ton to 177,500–180,700 yuan per ton. The LC2609 futures contract closed at 184,460 yuan per ton, up 1.61% from the previous trading day,

According to Kazakhstan's national energy company KazMunayGas, oil production in the first quarter of 2026 declined 12% year-over-year to 5.6 million tons.

According to a UBS report released on May 22, global non-energy shipping has rebounded significantly in May after weakening in March and April. Non-energy shipping is currently only 4% below normal levels, compared to 13% below in the previous two months. In Asia, non-energy shipping volume has

According to Jin10, on May 25, U.S. stock markets will be closed for the entire day due to Memorial Day. CME precious metals and crude oil futures will conclude trading at 02:30 Beijing time on May 26, while U.S. stock and Treasury futures will end at 01:00 Beijing time on May 26. Hong Kong stock m

According to ECB President Lagarde, on May 22, long-term inflation expectations remain broadly anchored to the 2% target, despite deepening impacts from the Iran conflict. The energy crisis is pushing up inflation and weighing on economic activity, yet longer-term inflation expectations overall rema

According to Shanghai International Energy Exchange, on May 22, two accounts with actual controlling relationships exceeded daily opening trade volume limits on relevant futures contracts, violating the exchange's Abnormal Trading Behavior Management Rules. The exchange imposed restrictions on new p

According to EU Council statement, the European Union suspended tariffs on critical nitrogen fertilizers including urea and ammonia for one year as of May 22. The measure is designed to reduce costs for EU farmers and the fertilizer industry while diversifying supply chains and trading channels. The

According to Xinhua, Malaysia's Deputy Prime Minister Fadillah announced on May 22 that the government is seeking overseas energy supplies to ensure sufficient energy availability through December, amid rising global energy costs impacting production

On May 21, Guangzhou Futures Exchange Vice General Manager Leng Bing visited the Lithium Industry Association to exchange views on the operational status and development trends of core new energy products including lithium carbonate, industrial silicon, and polysilicon. The two parties discussed

According to the Shanghai Futures Exchange (SHFE), on May 22, warehouse receipts across multiple commodity futures showed mixed movements. Notable declines included lead futures down 3,069 tonnes, hot-rolled coil down 19,673 tonnes, 20-gauge rubber down 4,233 tonnes, and aluminum oxide down 3,883 to

WTI and Brent crude oil prices rose roughly 1 dollar intraday today, with gains of approximately 1%, trading at $102.47 and $102.87 per barrel respectively. According to sources in Pakistan, U.S.-Iran negotiations have reached a

On May 21, China Hongqiao, the investment arm of China Aluminum Group's listed subsidiary Chalco, signed an alumina project agreement with the Government of Guinea in Conakry. The project, leveraging Guinea's mineral resources, requires approximately $1 billion in investment and will build a

According to CCTV News, on May 21, India's peak power demand hit a record 270.82 GW at 3:45 PM local time, marking the fourth consecutive day of new daily highs. The previous day's peak reached 265.44 GW. Extreme temperatures across multiple regions drove the surge, with New Delhi recording 45.3°C a

Brent crude oil rose 3.0% intraday to $105.67 per barrel, while WTI crude advanced 2.5% to $98.76 per barrel on May 22.

According to Jin10 Futures, on May 22, inventories across Shanghai Futures Exchange energy and petrochemical contracts remained unchanged from the previous trading day. Pulp warehouse stocks held at 201,824 tons, while fuel oil inventories stood at 47,160 tons and medium sour crude oil at 3,511,000

Chinese commodity futures fell across the board on May 22, with PET bottle flakes leading losses, down over 5%. Paraxylene and butadiene rubber fell over 4%, while coking coal, PTA, short fibers, and ethylene glycol declined over 3%. On the upside, European container shipping indices rose over 3%, a

On May 22, 2026, the U.S.-Iran situation once again became a core variable driving global financial markets. Iranian media earlier claimed that the final draft of a U.S.-Iran agreement had been reached and would be published within a few hours, but this was immediately rebutted by Al Jazeera, which said the report was “fabricated.” U.S. Secretary of State Rubio later clarified that while the negotiations had made progress, there was no guarantee of a final deal, and he did not want to appear ove

According to Japan's Ministry of Economy, Trade and Industry, Japan will receive its first tanker carrying 2 million barrels of Saudi crude through the Strait of Hormuz since the conflict began, with the Idemitsu Maru expected to dock at Idemitsu Kosan's Aichi refinery on Monday,