Commodities (Crude Oil & Copper) & Macro Outlook

Shanghai Futures Exchange crude oil futures contract 2606 rose 4.25% during night session on May 15, closing at 661.70 yuan per barrel. Meanwhile, Shanghai gold fell 1.13% and Shanghai silver declined 6.79%.

According to the Intercontinental Exchange (ICE), diesel speculators increased their net long positions by 145 contracts to 59,796 during the week ended May 12.

According to ICE data, speculative net long positions in Brent crude futures fell by 28,400 contracts to 345,805 contracts during the week of May 12, marking the lowest level in ten weeks.

Canada will evaluate a proposed west coast oil pipeline project in Alberta, with the goal of beginning construction by September 2027.

U.S. oil drilling rigs rose to 415 in the week ending May 15, up from 410 in the prior week.

The U.S. total rig count reached 551 in the week ending May 15, up from 548 in the previous week, according to Baker Hughes rig count data.

U.S. natural gas drilling count declined to 128 for the week of May 15, down from 129 in the previous week.

Baker Hughes will release the weekly U.S. total oil rig count for the week ending May 15 in approximately 10 minutes.

On May 15, WTI crude oil surged 3% intraday to $105.11 per barrel.

According to CoinDesk, during the recent Iran conflict, traders have increasingly bypassed traditional market hours by utilizing blockchain platforms such as Hyperliquid for around-the-clock trading in commodities, including crude oil and gold. Market analyst Huang noted that traders did not wait fo

European natural gas futures surged this week, with ICE UK Natural Gas futures climbing 15.23% to close at 124.580 pence per therm on Friday (May 15), and TTF Dutch natural gas futures rising 15.14% to 50.326 euros per megawatt-hour. ICE EU carbon allowances gained 0.47%, trading at 74.50 euros per

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 U.S. Energy Secretary Wright, on Friday (May 15), the U.S. can "easily" double its natural gas export volumes without pushing up domestic prices. Wright noted that American natural gas resources are "remarkably abundant," and the country currently exports approximately 20% of its

According to Jin10, on May 15, U.S. refineries accelerated production to near-maximum capacity, with refinery utilization rates climbing to 92% in recent weeks as the Iranian conflict disrupted Persian Gulf energy supplies. Gasoline output reached a nine-month high, while jet fuel production hit

According to Jin10, on May 15, Venezuela's state oil company PDVSA began distributing proposed contracts to energy firms interested in operating in the country, marking a key step toward restoring the nation's crude production. Industry sources noted the draft agreement reflects PDVSA's

According to Jin10, U.S. Energy Secretary Wright announced on Friday, May 15, that the United States will replenish the Strategic Petroleum Reserve (SPR) at a ratio of at least 1.2 barrels for every barrel released. Wright stated: "We are now releasing oil, and for each barrel released, we will repl

As of market close on May 15, China's futures markets showed mixed performance. Caustic soda fell over 2%, while coke and soy meal both declined over 1%. Cotton and PVC dropped nearly 1%. On the upside, low-sulfur fuel oil (LU) surged over 3%, and asphalt rose more

According to Societe Generale Americas research director Subadra Rajappa, U.S. Treasury yields showed sharp abnormal volatility today (May 15), driven by accelerating inflation expectations and surging energy prices tied to the Iran conflict. Rajappa stated that higher energy costs are limiting

According to Ganfeng Lithium, during an investor event on May 15, the company stated that current industry lithium ore and lithium salt inventory levels remain at historic lows. The company attributed this to rapid growth in lithium battery demand this

Gate News: According to the latest Gate TradFi data, OJUICE (Orange Juice) has dropped by 6% in a short period. Current volatility is significantly higher than recent averages, indicating increased market