Commodities (Crude Oil & Copper) & Macro Outlook

According to Saudi government data, Saudi Arabia's imports fell 24.8% in March 2026.

ADNOC stated that full crude oil production will not be restored before the first or second quarter of 2027.

Brent crude oil gained 1% intraday to $103.31 per barrel on May 21.

According to ADNOC, with global oil demand expected to remain above 100 million barrels per day, the UAE aims to supply low-cost and low-carbon energy to new markets following its withdrawal from OPEC. The company positioned the move as an opportunity to strengthen its competitive advantage in the e

According to Jin10, a market survey on May 21 shows that crude oil prices are broadly expected to be capped around $100 per barrel over the next 12 months, as demand destruction offsets supply losses from the U.S.-Iran conflict. Most respondents expect Brent crude to average $81-100 per barrel over

According to CME data on May 20, gold futures saw concurrent increases in both trading volume (209,926 contracts, +39,245) and open interest (386,164 contracts, +6,839). Natural gas futures also recorded gains, with trading volume at 630,497 contracts (+88,056) and open interest at 1,604,537 contrac

Latam debt and equities, which have outperformed their peers in both developed and emerging markets, are becoming opportunities in a region where several countries are isolated from the energy crisis hitting other continents due to their energy dependence on conditions tied to the ongoing

According to Guru Club, the containerized freight index Europe route main contract rose 6% intraday on May 21, now trading at 2912.0 points.

According to Goldman Sachs, global oil inventories declined by 8.7 million barrels per day in May, marking a record pace of inventory drawdown.

According to analysts, Saudi Arabia is expected to burn more imported fuel oil for power generation this summer due to oil export disruptions caused by Iran's conflict. The kingdom has been forced to shut down some oil fields, which has also led to natural gas supply disruptions, forcing increased r

According to Xinhua, on May 20, Abu Dhabi National Oil Company (ADNOC) CEO Sultan Al Jaber announced that the UAE is constructing an east-west crude oil pipeline bypassing the Strait of Hormuz. The project is approximately 50% complete and is expected to become operational in 2027.

According to Shanghai Steel Union, MMLC battery-grade lithium carbonate trading midpoint reached 178,950 yuan/ton today (May 21), up 450 yuan/ton from the May 20 closing price of 16:30.

According to Jin10 Futures, China's gasoline and diesel prices will increase by 75 and 70 yuan per ton, respectively, effective May 21 at 24:00. This translates to approximately 0.05-0.06 yuan per liter across grades. The adjustment marks the eighth price increase

Bitcoin (BTC) rebounded from this week’s low, temporarily around $77,880 on May 21. The Chair of the U.S. Securities and Exchange Commission (SEC) is seeking public input on prediction-market ETFs. In its S-1 filing, SpaceX disclosed that it holds 18,712 BTC, currently worth approximately $1.45 billion. Macro Events & Crypto Hot Spots 1、Bloomberg ETF analyst Eric Balchunas wrote on X that the Chair of the U.S. Securities and Exchange Commission (SEC) is seeking public input on prediction-market

According to Guru Club, LME tin rose 6% intraday on May 21, trading at $54,600 per ton.

According to Guru Club, on May 21, domestic commodity futures showed mixed performance. Energy and gas contracts fell: SC crude oil and low-sulfur fuel oil (LU) each dropped over 4%, marine fuel declined nearly 4%, and liquefied petroleum gas (LPG) fell nearly 3%. Metals and shipping gained:

According to Jin10 Futures, on May 21, South China's main refineries continued their decline overnight, widening the spread with port prices. Port-side selling pressure eased with some regional stabilization, supported by elevated cost levels. However, overnight international crude oil prices

According to Guru Club, WTI crude oil broke above $100 per barrel on May 21, up 1.79%. Brent crude oil rose 1% to $106.17 per barrel during the same trading session.

According to Zhongxin Securities research released on May 20, global oil inventory has fallen to record lows amid the U.S.-Israel-Iran conflict disrupting traffic through the Strait of Hormuz. U.S. refined product prices reached multi-year highs, while energy-importing regions across Asia face

According to Japan's Finance Ministry, the country's crude oil imports declined 63.7% year-over-year in April based on preliminary figures.