Commodities (Crude Oil & Copper) & Macro Outlook

According to sources, Kazakhstan's oil and gas condensate production dropped 21% to 1.63 million barrels per day on Wednesday, falling below the July average of 2.07 million barrels per day.

According to CoinDesk, WTI crude oil hit $88.60 per barrel on July 22, marking the highest level since June 11, as geopolitical tensions between the U.S. and Iran intensify. The rally has revived concerns about inflation resurgence, potentially limiting the Federal Reserve's room for interest rate c

According to Jin10 Data, on July 23, investors increased bets on UK rate hikes in November and December amid rising oil prices and inflation concerns. Markets are now fully pricing in a 25 basis point hike in November, with a 93% probability of a rate increase in December.

Singapore's middle distillate oil inventories fell by 593,000 barrels to 8.715 million barrels, a 3-week low, for the week ended July 22, according to data released by Singapore's Enterprise Singapore (ESG) on July 23.

According to Singapore's Economic Development Board, fuel oil inventory rose 345,000 barrels to 19.46 million barrels for the week ending July 22, marking a three-week high.

South Korean petrochemical companies failed to recover credit ratings in the first half of this year, with zero upgrades among 14 major firms reviewed by the country's three credit rating agencies. LG Chem was downgraded

According to credit rating agencies, in H1 2026 regular assessments, none of the 14 major South Korean petrochemical companies received credit rating upgrades, marking a comprehensive failure in credit recovery. LG Chem's rating fell from AA+ to AA, while Yeochen NCC dropped from A- to BBB+, and

According to Jin10, World Metals and Alloys Limited (WMA FZC) announced on July 22 that it is suspending production at its Emang and Boskop mines effective immediately, citing deteriorating market conditions. The company is also reducing exports by more than 60% from previous levels. The measures ar

According to Goldman Sachs' latest global outlook, global stock markets fell approximately 2% last week, with technology stocks sliding 5% amid momentum unwinding and profit-taking. Japan, South Korea, and Taiwan experienced steeper declines of 3% to 9%. Goldman's strategy team warned that the

According to Jin10, EU Commission President Ursula von der Leyen announced on July 23 that 32 Russian banks, along with crypto companies and oil trading platforms, have been added to its sanctions list.

According to EU Commission President Ursula von der Leyen, the European Union has sanctioned vessels assisting Russia's shadow fleet for the first time. The move marks an escalation in the bloc's efforts to counter circumvention of existing sanctions targeting Russian oil

According to Guru Club, Thailand's Energy Regulatory Commission approved a reduction in ex-refinery prices for B0, B7, and B20 diesel of 2.40 Thai Baht per liter, effective from July 24 to August 15.

According to EU diplomats, the European Union representatives agreed on July 23 to extend the exemption for transporting Russian liquefied natural gas to third countries for an additional year, with automatic renewal

According to industry sources on July 23, LNG buyers from Qatar and the United Arab Emirates sought lower prices and stronger supply guarantees from suppliers, citing risks in the Strait of Hormuz. Long-term LNG contract prices in the region had typically been set at 12.6%-12.7% of Brent crude oil p

According to Jin10, the EU agreed to freeze its oil price cap on Russian oil for 12 months as part of the 21st round of sanctions, according to EU diplomats.

According to Bitget, WTI crude oil rose 3% to $89.52 per barrel on July 23, while Brent crude oil gained 2.5%.

According to Jin10 Futures, on July 23, China's Shanghai International Energy Exchange reported that warehouse receipts across energy and chemical futures remained unchanged from the previous trading day. Pulp futures warehouse receipts stood at 319,520 tons, while medium-sour crude oil futures rece

South Korea's government-led petrochemical industry restructuring has placed the sector's credit rating defense on trial, as the Ministry of Trade, Industry and Energy announced on the 22nd its approval of the 'Yeosu No. 1 Business Restructuring Project' involving Yeocheon NCC, Lotte Chemical,

Kyobo Securities assessed on the 23rd that global energy markets have become more vulnerable to oil price increases than in March during the Strait of Hormuz blockade, as buffer mechanisms have been exhausted. Senior researcher Wi Jae-hyeon stated the second shock from prolonged dual-strait

According to the UK Maritime Trade Operations (UKMTO), an oil tanker was attacked by an unidentified projectile approximately 70 nautical miles southwest of Saudi Arabia's Al-Shuqaiq today (July 23), resulting in a fire onboard that crew members are currently working to extinguish. The Yemen-based