Commodities (Crude Oil & Copper) & Macro Outlook

According to JODI (Joint Organizations Data Initiative), Saudi Arabia's crude oil production declined by 3.915 million barrels per day in March, bringing the total output to 6.967 million barrels per day.

According to the Joint Organizations Data Initiative (JODI), Saudi Arabia's crude oil inventories fell by 17.912 million barrels in March, declining to 152.645 million barrels.

According to the UK government, on May 20, the UK announced enhanced sanctions on the oil and gas sector, effective today, including immediate bans on refined petroleum products, paraffin wax, naphtha, and lubricating oils. Some measures will be phased in over coming months to manage market

According to Guru Club, WTI crude oil futures dropped 3% today to $101.01 per barrel.

According to Reuters, Russia's state oil and gas revenues are estimated to reach 700 billion rubles (approximately $9.8 billion) in May, up 39% year-over-year, driven by global oil price increases stemming from the Iran conflict. The revenues represent about one-fifth of total budget income.

According to Reuters calculations, Russia's state oil and gas revenues in May are projected to reach 700 billion rubles, up 39% year-over-year, driven by elevated global oil prices.

According to Jin10, Nigeria's oil production reached 1.6 million barrels per day in April, marking the largest monthly gain in three years. Dozens of smaller oil producers are capitalizing on supply disruptions caused by Iran-related tensions and the closure of the Strait of Hormuz to boost

According to EU Commission officials, the bloc believes EU member states can reduce natural gas consumption by 15 billion cubic meters in 2026.

According to Iran's Tasnim News Agency, Iranian military spokesman Mohammad Akraminia stated on Tuesday that Iran maintains control over the Strait of Hormuz and that its situation cannot return to a previous state. He warned that if adversaries attempt another invasion, Iran will open new fronts us

According to Citi on May 20, Brent crude oil is expected to rise to $120 per barrel in the near term, with the bank noting that oil markets may be underestimating the risk of prolonged supply disruptions. Data released by the American Petroleum Institute showed U.S. crude inventory fell for the

On May 14, 2026, the U.S. Senate Banking Committee passed the “Digital Assets Market Structure Act” (CLARITY Act) by a vote of 15 in favor and 9 against, and the bill officially moved into the full Senate for consideration. On the same day, the Polymarket prediction market raised the probability that the bill would become law in 2026 to 68%, the highest level since the legislative process began. This is a key inflection point in U.S. Crypto regulation, as it shifts from “enforcement-led regulati

According to Jin10 on May 20, energy consulting firm Cornwall Insight predicted that rising energy prices resulting from Middle East tensions could increase UK household annual energy expenses by 13%. The firm's latest forecast for the third quarter of 2026 estimates a typical UK household's annual

On May 20, Shanghai International Energy Exchange (SHIE) restricted opening positions for an account group that exceeded intraday position limits on the exchange. The trading behavior violated Article 16 of SHIE's Abnormal Trading Behavior Management Rules. The account group's daily opening volume e

According to Huailian Futures research, on Wednesday (May 20), the main contract for Europe's container shipping route (EC2606) accelerated higher, reaching a new phase high, driven by strong long sentiment ahead of the peak shipping season. The SCFIS Europe index closed at 1,709.43 points,

On May 20, WTI crude oil fell over 2% intraday to $105.49 per barrel, while Brent crude declined 2% to $105.22 per barrel.

Ukrainian military struck an oil refinery in Russia's Nizhny Novgorod region on May 20, according to an official statement from Ukrainian military authorities.

According to Jin10 Futures, as of May 18, Fujairah port's refined oil inventory totaled 6.593 million barrels, up 960,000 barrels from the previous week. Light distillate inventory declined 350,000 barrels to 2.496 million barrels, while middle distillate rose 600,000 barrels to 1.189 million barre

According to the London Metal Exchange, on May 20, lead inventory increased by 22,275 tonnes, while nickel rose 3,576 tonnes and copper declined 1,275 tonnes. Zinc fell 450 tonnes, tin inventory rose 310 tonnes, and aluminum decreased 1,100 tonnes.

According to Indonesia's Ministry of Trade, the country exported 2,254.83 tonnes of refined tin in April.

According to Jin 10 Futures, on May 20, Shanghai Futures Exchange (SHFE) energy and chemical futures warehouse receipts showed mixed activity. Pulp futures warehouse inventory declined by 7,101 tons to 198,844 tons compared to the previous trading day. Most other contracts remained unchanged,