Commodities (Crude Oil & Copper) & Macro Outlook

Shell's oil and gas production declined 16% in the first half of 2026 compared to the same period in 2025, primarily due to the impact of Middle East conflict on its Qatar operations.

Shell (SHEL.N) expects its combined natural gas output in the third quarter to reach between 570,000 and 630,000 barrels oil equivalent per day, according to the company's latest guidance.

Shell reported adjusted earnings of $9.84 billion for the second quarter, surpassing market expectations of $8.68 billion. The energy giant beat consensus forecasts by approximately 13%, reflecting stronger operational performance during the

According to the U.S. Energy Information Administration (EIA) on July 30, refinery utilization rates in the U.S. Midwest surged to historic highs, while strategic petroleum reserve inventory fell to its lowest level since the week

According to Jin10, Christian Hoffmann, head of fixed income at Sancroft Investment Management, said on July 30 that the Federal Reserve's decision to hold rates unchanged was a "troubling inaction" rather than an inevitable outcome. Despite constructive inflation data, oil prices surged again

According to industry sources, Qatar Energy has purchased 33 liquid natural gas (LNG) cargoes from the United States so far this year to supply Asian customers, marking a significant increase from just 4 cargoes last year. The purchases aim to minimize disruptions to major clients following Iran's c

According to Guru Club, SC crude oil futures gained 6.00% intraday to 567.00 yuan/barrel on July 30.

Liquefied petroleum gas (LPG) main contract rose 2.00% intraday on July 30, trading at 5,563.00 yuan/ton.

China's crude oil futures contracts surged today. SC crude oil rose 5.27% to 563.1 yuan per barrel, while low-sulfur fuel oil (LU) gained 3.28% to 4,817 yuan per ton. Heating oil increased 3.00% to 3,679 yuan per ton, and asphalt rose 1.12% to 4,161 yuan per ton.

According to CME data cited by Jin10, on July 29, silver trading volume increased 10,103 contracts to 49,157 hand and open interest rose 2,266 contracts to 108,985 hand. Gold saw trading volume rise 14,809 contracts to 313,535 hand but open interest fell 1,850 contracts. Brent crude oil trading volu

According to Bloomberg, Samsung SDI will begin producing energy storage batteries in the United States in October.

According to Iran's state news agency IRNA, two oil tankers caught fire and quickly returned to port last night after attempting to sail along an unsafe route south of the Strait of Hormuz. The Iranian Revolutionary Guards Corps reported the incident. Iran's Navy stated it maintains control of the r

According to Jin10, internal disagreement within the Federal Reserve triggered a weaker dollar, which lifted base metals including copper and aluminum as of late July. The divergence in Fed policy expectations disrupted market sentiment and supported demand for commodities. Geopolitical tensions in

Hong Kong stocks traded mixed at midday, with the Hang Seng Index slipping 8 points to close the morning session at 25,798 points. The decline followed overnight weakness in US markets, where the Dow Jones fell over 1,000 points and both the S&P 500 and Nasdaq dropped more than 1% after the

According to Brazil's National Grain Exporter Association (Anec), for the week of July 26-August 1, Brazil plans to export 2.897 million tons of soybeans, 878,090 tons of soy meal, and 1.519 million tons of corn. This represents an increase compared to the prior week (July 19-25), when Brazil export

According to Capgemini economist Gareth Leather, most Asian economies are expected to achieve steady growth in 2026, with the region's gross domestic product performing well year-to-date, reported Jin10 on July 30. Electronics product exports have surged more than 50% on a year-over-year basis.

According to Cenovus Energy's Q2 earnings announcement, the Canadian energy company in which Cheung Kong and the Lee family hold a significant stake reported net profit of 2.8 billion Canadian dollars, doubling year-over-year. The company achieved a major milestone in July by reaching daily

The Indonesian Nickel Smelter Association (FINI) stated on Wednesday that nickel product exports continue to face delays due to the government's mandatory rare earth element testing program. The delays persist despite assurances from the presidential staff office to resolve bottlenecks, with

According to Mining Weekly, Indonesia's Nickel Refiners Association (FINI) said on Wednesday that rare earth element testing mandated by the government continues to delay nickel product exports. About 120 inspection reports remain pending, affecting major mining regions including Sulawesi, the

According to Jin10, Malaysia palm oil futures declined 16 ringgit (0.34%) to 4648 ringgit per ton on July 30, marking the third loss in four trading days. The October contract, equivalent to approximately $1137.82 per ton, weakened as competitor vegetable oils and crude oil prices retreated.