Commodities (Crude Oil & Copper) & Macro Outlook

JP Morgan analysis shows global oil supply dropped by approximately 11.1 million barrels per day since the US-Iran conflict began in February, yet Brent crude prices remain about $20 below the April-May highs despite trading above $101 per barrel recently. The investment bank attributes this price s

South Korean government bond futures surged on January 27 as international oil prices reversed course and declined, driven by expectations that tensions between the United States and Iran may ease. The 3-year bond futures rose 16 ticks

According to JP Morgan strategist Natasha Kaneva on July 26, global crude oil supply has fallen 11.1 million barrels per day since February amid the US-Iran conflict, pushing global inventories to historical lows. However, Brent crude remains near $101 per barrel, approximately $20 below early-war h

According to Yonhap Infomax, on July 27, South Korea's 10-year government bond futures surged 59 ticks to 104.79 as crude oil prices fell sharply on expectations of easing U.S.-Iran tensions. The 10-year benchmark yield declined 7.4 basis points to 4.375%. WTI crude fell 5.17% to $84.69 per barrel a

South Korean bond market participants are raising terminal rate expectations amid growing forecasts for back-to-back interest rate hikes in August. Market consensus had anticipated the base rate reaching around 3.5% by mid-next year through gradual quarterly increases. Following last week's GDP grow

According to China's National Bureau of Statistics, large-scale industrial enterprises' revenue grew 6.5% year-on-year in the first half of 2026, accelerating 1.5 percentage points from the first quarter. Profit growth surged to 18.7%, gaining 3.2 percentage points. Mining and manufacturing

As of 9:30 a.m. Beijing time on July 27, WTI crude oil futures fell 5.92%, while U.S. natural gas futures dropped 1.80%.

According to Gate data, silver rose to $59.583 per ounce, up 2.24% intraday on July 27. Gold climbed to $4,100.78 per ounce with a 0.22% gain. Cryptocurrency volatility indices also showed movement: BVIX (Bitcoin volatility index) rose 0.57% to 38.52, while EVIX (Ethereum volatility index)

According to Korea Securities Depository, derivative-linked securities (DLS) issuance in the first half of 2026 reached approximately 15.9 trillion won, up 18.7% from the prior half. Despite a decrease in the number of products issued, the total issuance volume expanded as average deal sizes grew, p

According to Guangda Futures, SC crude oil fell over 7% in early morning trading on July 27, while low-sulfur fuel oil (LU) and fuel oil declined over 6%. The declines came as escalating U.S.-Iran conflict and intensifying Red Sea tensions restrict Middle East energy exports, constraining crude

According to Yonhap Infomax, on July 27, the USD/KRW rate is expected to test the downside around 1,450 won, driven by SK Hynix's ADR fund conversion selling and easing geopolitical tensions. The U.S. and Iran halted reciprocal airstrikes overnight, reducing Middle East risk premium and supporting w

According to Business Insider, Neil Dutta, chief economist at Renaissance Macro Research, predicted yesterday that the Federal Reserve could execute a surprise rate hike at this month's FOMC meeting. Dutta cited persistent inflation pressures, including a June consumer price index of 3.5%

According to Chuangyuan Futures report on July 27, the US did not launch strikes against Iran for two consecutive nights, and Iran has halted retaliatory attacks. Iranian officials stated that Iran will continue ceasefire if the US maintains its current stance. Both nations have responded

According to Jin10 Futures, as of 8:30 AM on July 27, WTI crude oil and international spot silver were among the most volatile commodities overnight, with corresponding theoretical impact on domestic futures

According to Jin10 Futures, on July 27, Middle East tensions eased, triggering a decline in international oil prices. With weakening cost support, PX prices are expected to follow crude oil lower today.

President Lee Jae-myung chaired a staff meeting on the evening of the 27th (local time) during his state visit to Brazil, directly reviewing the results of his diplomatic tour and addressing domestic economic issues. The meeting focused on achievements from his U.S. visit and policy responses to

According to Yonhapinfomax, on July 27, President Lee Jae-myung directed the government to maintain an oil price ceiling and fuel tax cuts to minimize domestic inflation impact amid volatile global crude prices. He stated that if international oil price instability worsens, additional measures

According to Ukraine's state news agency Ukrinform, Allseeds, one of Ukraine's largest vegetable oil and oilseed meal producers and exporters, suspended operations in the Odesa region on July 27 due to escalated Russian missile and drone attacks on port and logistics infrastructure. The company

Dutch TTF natural gas futures fell 8.3% over the weekend, reaching 58.28 euros per megawatt-hour (66.39 USD), marking the largest intraday decline since June 15, after the United States suspended air strikes against

From 22:30 to 22:45 UTC on July 26, 2026, BTC inched higher, with a Return % of +0.39%. The price range was 65,202.4–65,494.4 USDT, with an Ampl of 0.45%. Overall, it was a mild uptrend in a low-volatility, low-amount environment. The main driver behind this move was that the US-Iran geopolitical conflict was paused for two consecutive days. Trump postponed his plans to escalate against Iran after intercept missile stockpiles ran out. Iran also paused attacks targeting US allies. With geopolitic