Commodities (Crude Oil & Copper) & Macro Outlook

According to U.S. API data released last week, American crude oil inventories declined by 9.11 million barrels, compared to a decrease of 2.188 million barrels in the previous week.

According to the American Petroleum Institute (API), the organization will release its weekly crude oil inventory report at 04:30 Beijing time. Non-API members can access the data details approximately 2 minutes later,

According to Jin10, crude oil futures declined on May 20 at close. WTI crude for June delivery fell 89 cents to $107.77 per barrel, down 0.82%. Brent crude for July delivery dropped 82 cents to $111.28 per barrel, down 0.73%.

According to Citigroup, if the Strait of Hormuz remains closed by early 2027, an oil shock comparable to that of the 1970s could occur. The warning highlights potential supply disruptions in a critical global energy

According to Bloomberg, on May 19, the Bloomberg Grains Index fell 0.14% to close at 32.8808 points at the New York close. CBOT corn futures declined 0.37%, while wheat futures rose 0.53%. Soybean futures dropped 0.23% to $12.1025 per bushel, soybean meal futures fell 0.66%, and soybean oil futures

Gate News: According to the latest Gate TradFi data, NG (Natural Gas) has surged by 6% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

According to Jin10, WTI crude oil surged over 2% intraday on May 20, reaching $108.41 per barrel, while Brent crude gained 2%, trading at $108.27 per barrel.

According to The Wall Street Journal, three U.S. officials said the U.S. seized an Iran-linked oil tanker in the Indian Ocean overnight.

On May 19, Shanghai Futures Exchange crude oil 2607 contract closed 2.40% higher at 690 CNY per barrel during overnight trading. Gold futures fell 1.11%, while silver futures declined 3.44%.

According to Reuters, Ukrainian forces conducted a drone strike on Moscow oil refinery on May 17, forcing it to suspend operations.

According to Bloomberg data, on May 19 during early U.S. trading, Brent crude oil market saw a massive single block trade in July-expiring put spread options with a strike range of 91/90 U.S. dollars, totaling 134,000 contracts, or equivalent to 134 million barrels of underlying crude. Market

At a Houston conference, Venezuelan Oil Minister Paula Henao announced that the country's new hydrocarbon law will permit dispute resolution proceedings to be conducted outside Venezuela. The framework addresses a long-standing demand from foreign oil companies considering increased investment in th

LME copper futures closed down 176 dollars at 13,411 dollars per ton today. Aluminum futures rose 34 dollars to 3,602 dollars per ton, while zinc futures fell 11 dollars to 3,513 dollars per ton.

According to LSEG, natural gas flowing to nine major U.S. liquefied natural gas export terminals is expected to reach its lowest level in 16 weeks on Tuesday, despite production recovery signals from the Golden Pass joint venture between QatarEnergy and ExxonMobil in Texas. This decline comes as

According to sources, Russia's Ryazan oil refinery halted operations following a Ukrainian drone strike on May 15. The facility is a key component of Russia's oil processing infrastructure in the Ryazan

According to Jin10, President Trump stated today that Iran and elevated oil prices will not persist much longer. Trump noted that Iran has learned its lesson and emphasized that the Strait of Hormuz is international waters, not Iranian territory. He added that the situation will improve quickly,

Chile's National Copper Commission (Cochilco) raised its 2026 copper price forecast to $5.55 per pound, according to an official announcement. The upward revision reflects updated market assessments for the

According to Odaily, NATO is considering military deployment to the Strait of Hormuz if the waterway remains closed through July to address ongoing shipping disruptions. The alliance is discussing potential military action to ensure passage, though member states have not reached consensus. The

According to consulting firm VEERIES, Brazil's soybean planting area for the 2026/27 crop year is expected to increase by approximately 400,000 hectares, marking the slowest growth in two decades.