Commodities (Crude Oil & Copper) & Macro Outlook

According to Baltic Exchange data, very large crude carrier (VLCC) rates on the Oman Gulf-to-China route surged to approximately 450 on the Worldscale benchmark this week, equivalent to 4.5 times normal rates, or about $11.50 per barrel in shipping costs—a record high for the route. The spike

According to Guru Club, California's diesel prices surged to historic levels on September 12, with statewide average prices breaking through $8 per gallon, and one San Diego gas station marking prices at $9.99 per gallon. Fuel supply shortages, declining refinery capacity, limited pipeline

According to Trump's statement on September 12 during a bilateral meeting with Ireland's Prime Minister, the war with Iran will end quickly after the midterm elections, and oil prices will subsequently

According to the American Automobile Association, U.S. diesel prices reached a new historical high of $6.05 per gallon on September 11, up from $5.85 per gallon recorded on September 4, as geopolitical tensions between the United States and Iran disrupted global fuel supplies. Paul Mitchell, a

According to Jin10 Data, U.S. diesel prices hit a record high of $6.05 per gallon as of September 11, driven by U.S.-Iran tensions disrupting global fuel supplies. The price previously surged to $5.85 per gallon on September 4, marking the first time the benchmark exceeded that threshold,

European Central Bank President Christine Lagarde stated on the 11th that conflicts in the Middle East and between Russia and Ukraine have led to rising energy costs, which in turn have pushed up all prices. In an interview with French newspaper Ouest-France published on the 11th, Lagarde

International oil prices surpassed $100 per barrel across all three major benchmarks as Middle East military conflicts intensified, according to Korean government ministries and international financial markets on September 13. The surge in Brent

According to Yonhapinfomax, all three major international crude benchmarks—Brent, WTI (West Texas Intermediate), and Dubai crude—surged past $100 per barrel on September 11, driven by escalating Middle East conflict and supply chain disruptions. Dubai crude, which serves as the reference for South

According to Iran's Tasnim News Agency citing informed sources, Iran and Oman reached an agreement in late August on new shipping routes through the Strait of Hormuz. Under the accord, vessels entering the Persian Gulf will use routes located entirely within Iranian territorial waters, with the

US President Donald Trump stated on the 12th (local time) in Dublin that the end of the war with Iran is "very close, probably right after the midterm elections." Trump told reporters Iran is trying to hold out as long as possible to complicate the election, but believes people understand this.

U.S. President Donald Trump suggested Iran is likely behind the attack on Saudi Arabia's East-West pipeline. The attack involved drone strikes and led to the shutdown of a key oil export route for Saudi Arabia, further escalating regional tensions. This development comes amid a broader conflict invo

In a recent statement, U.S. President Donald Trump accused Iran of being behind drone strikes on Saudi Arabia's East-West pipeline. The attack resulted in the shutdown of a critical oil export route for the kingdom, escalating tensions in the region. The accusation comes amid broader U.S.-Iran

Last week, major U.S. stock indices pared gains amid surging oil prices and bond yields that stoked renewed inflation concerns. The Dow Jones fell 1.6% on the week, while the S&P 500 and Nasdaq each declined 0.8% and 0.7%, respectively. West Texas Intermediate crude climbed above $100 per barrel

According to Bloomberg, on Monday (September 14), Iran will notify Gulf nations of a Strait of Hormuz shipping agreement.

US crude oil prices rose above $102 per barrel, reaching their highest level since May, driven by concerns over supply risks in the Middle East. The surge in West Texas Intermediate (WTI) crude oil reflects market sensitivity to geopolitical tensions and potential disruptions in oil supply. China, t

Saudi Arabia shut down its East-West oil pipeline on September 11, 2026, one day after drone attacks damaged pump stations in the Riyadh and Medina regions and injured personnel. The strikes were traced to Iraq's Maysan province, a border region adjacent to Iran, though no group claimed

U.S. crude oil prices topped $102 per barrel, marking their highest level since May, driven by supply concerns in the Middle East. The surge in West Texas Intermediate (WTI) crude reflects market sensitivity to geopolitical tensions in the region. Meanwhile, China's declining oil demand poses a

In February 2026, the U.S. Supreme Court ruled 6-3 that President Trump's tariffs, imposed under the International Emergency Economic Powers Act, were unconstitutional, according to data from Customs and Border Protection and the Penn Wharton Budget Model. The federal government's total exposure fro

On September 11, 2026, Saudi Arabia shut down its East-West Petroline after drone strikes damaged pump stations in the Riyadh and Medina regions, with the attacks traced to Iraq's Maysan province. The closure comes as the pipeline typically moves 4 to 5 million barrels of oil per day,

Brent crude fell from $109.97 to $104.61 on Friday, helping Bitcoin recover above $77,000 after a difficult week driven by inflation concerns. BTC gained roughly 0.9% on Friday, closing near $77,200, and held around $77,300 on Saturday. Chevron CEO Mike Wirth warned Friday that depleted crude oil i