Commodities (Crude Oil & Copper) & Macro Outlook

According to satellite monitoring by TankerTrackers.com, no large ocean-going tankers have been observed conducting loading operations at Khark Island's crude export terminal over the past 10 days since May 8. The monitoring firm estimates the island currently has 7–8 million barrels of idle

On May 18 at New York close, ICE Cocoa futures fell 5.85% to $3,768 per ton, with London Cocoa down 6.05%. ICE Raw Sugar futures declined 0.61%, while White Sugar fell 0.50%. Arabica Coffee futures dropped 0.50%, Robusta Coffee fell 1.96%, and Coffee C futures decreased 0.15%. ICE Cotton futures

According to Bloomberg data, grain futures rallied on Monday (May 18) at the close of trading in New York. The Bloomberg Grains Index rose 3.76% to 32.9265 points, gaining throughout the session. CBOT corn futures surged 4.72% to $4.7725 per

At the 2:30 AM close on May 18, Shanghai Gold Futures main contracts rose 0.04% to 998 yuan per gram, Shanghai Silver Futures climbed 1.02% to 18,840 yuan per kilogram, and SC Crude Oil Futures advanced 2.17% to 687 yuan per

WTI and Brent crude oil prices rallied over 3% earlier today (May 18), then retreated. WTI gains have now narrowed to 2.7%, while Brent is up 2.5%.

According to Jin10, on May 18, a U.S. official denied Iranian claims that the United States had agreed to temporarily waive oil sanctions during ongoing negotiations. Earlier that day, Iran's negotiation team said the U.S. had agreed in the latest negotiation text to implement a temporary

Gate News: According to the latest Gate TradFi data, OJUICE (Orange Juice) has dropped by 8% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

According to Jeffrey Gundlach, CEO of DoubleLine Capital, appearing on Fox News' Sunday Morning Futures, the likelihood of the US Federal Reserve cutting interest rates in 2026 is virtually zero. Gundlach argued that a rate cut is impossible when the two-year Treasury yield is approximately 50

According to AFP citing Kpler shipping data, 55 commercial vessels transited the Strait of Hormuz last week, a significant recovery from 19 ships the prior week—the lowest level since the Middle East conflict escalated. Approximately half were tankers, including three very large crude carriers

According to trade sources citing preliminary loading schedules, Angola is scheduled to load 29 crude oil cargoes in July, down from 35 cargoes planned for June.

According to Invesco Ltd., the Invesco DB Commodity Index Tracking Fund received net inflows of $86 million last week, marking its largest single-day inflow since 2022. The surge comes as investors seek inflation hedges amid escalating U.S.-Iran tensions, which have pushed commodity prices higher.

According to Bank of America's chief of commodities and derivatives research, Brent crude oil could average $90 per barrel for the remainder of 2026 in the most optimistic oil price scenario. The researcher noted that oil prices could potentially rise higher if the standoff with Iran persists or

According to government sources, the U.S. Treasury Department on May 18 extended its sanctions exemption on Russian seaborne oil shipments for an additional 30 days. The extension applies to the previously expired waiver

WTI crude oil currently trades at $106.53 per barrel, while Brent crude is at $107.49 per barrel, with both benchmarks showing limited intraday volatility on May 18.

Tom Lee, founder of Fundstrat and head of BitMine, attributed Ethereum's recent decline primarily to rising oil prices this week. According to his X post, ETH and oil prices maintain an inverse correlation that has reached an all-time high, with ETH prices falling as oil prices rose over the past si

According to U.S. Department of Agriculture data, American wheat export inspections totaled 223,972 tons in the week ending May 14, 2026, down sharply from the prior week's revised figure of 511,703 tons. For the 2025-2026 crop year to date, cumulative wheat export inspections reached 23,098,775 ton

According to CNBC, on May 18, EU economic affairs commissioner Dombrovskis said the bloc would downgrade economic growth forecasts and raise inflation projections due to the stagflation shock from the Iran conflict. Spring economic forecasts to be released later this week will show lower growth and

At close on May 18, Chinese commodity futures were mixed. Soybean meal (豆粕) and soybeans II (豆二) rose over 1%, while styrene, palm oil, rapeseed meal, and soybean oil gained nearly 1%. Among decliners, ethylene glycol, coking coal, and low-sulfur fuel oil fell over 1%.

According to The New York Times poll released today (May 18), President Trump's approval rating has dropped to 37%, marking a second-term low, with 59% of respondents expressing disapproval. A majority of voters view his handling of the economy, inflation, living costs, and the Iran war

According to Iran's Student News Agency (ISNA), Iran's parliament energy committee announced that reconstruction of the damaged South Pars gas field infrastructure will be completed within two years. Approximately 50% of the reconstruction work is expected to be finished before the winter season.