Commodities (Crude Oil & Copper) & Macro Outlook

According to Yonhapnews, Wall Street's focus this week centers on the Federal Open Market Committee (FOMC) meeting and major technology companies' second-quarter earnings as tensions between the U.S. and Iran escalate. Last week, major indices declined: Nasdaq Composite fell 2.13%, S&P 500

According to Korea Economic Daily, the KOSPI triggered circuit breaker mechanisms 10 consecutive trading days through July 24, with five sell-side and five buy-side halts alternating, causing extreme price swings. The index closed the week at 6,690.62 points, down 1.91% week-on-week. Volatility

South Korea's domestic fuel prices are showing signs of rebounding after a period of recent easing, driven by escalating tensions between the United States and Iran in the Middle East and a resulting surge in international oil prices. The price reversal follows disruptions to key global shipping

According to Yonhapnews, rising Middle East tensions are driving oil prices higher in late July 2026, fueling South Korean concerns over inflation in the second half of the year. If oil price gains continue, consumer prices could accelerate, potentially prompting faster interest rate increases.

According to U.S. Central Command, the Lavine oil tanker, flagged under Mozambique, was forced to stop its journey in the Gulf of Oman on July 24 after its crew repeatedly violated a blockade and ignored multiple warnings. The vessel is no longer bound for

According to Korea's Financial Investment Association, on July 24, unsecured corporate bond yields reached their highest levels in approximately 30 months. AA-rated 3-year bonds rose to 4.653%, up 4.2 basis points, marking the highest level since November 14, 2023. BBB-rated 3-year bonds climbed to

According to Houthi military spokesman Brigadier Yahya Saree, Iran-backed Houthi forces attacked two Aramco energy facilities in Saudi Arabia's Jizan and Yanbu on July 25 in retaliation for Saudi air strikes. The spokesman said forces used 10 ballistic missiles and drones to target the Jizan facilit

According to Bloomberg, Indonesia's metal exports faced delays in July due to new inspections targeting rare earth and uranium elements. The customs checks affected shipments of alumina and ferronickel, disrupting supply chains for

According to TASS, Russia will extend its gasoline export ban through year-end (December 2026). The Russian government announced the prolongation of the restrictions on fuel exports.

According to Mexico's President Claudia Sheinbaum, cattle exports to the United States will resume in late August at the Agua Prieta border crossing in Sonora, with subsequent expansion to two locations in Chihuahua. U.S. Agriculture Secretary Brooke Rollins informed Sheinbaum of the decision in a l

President Lee Jae-myung on the 25th (local time) welcomed the European Union's decision to grant South Korea an exemption for liquefied natural gas imports from Russia's Sakhalin-II project, stating it would significantly benefit citizens' daily lives and the economy amid growing energy supply

According to a Houthi statement released on July 25, the Yemeni group conducted two military operations against Saudi Aramco facilities. The first operation targeted the company's "sensitive facilities" in Jizan

According to Yonhapinfomax, the European Union on July 23 adopted its 21st sanctions package against Russia, which includes an exception allowing South Korea to import liquefied natural gas (LNG) from the Sakhalin II project until March 2028. The exemption covers South Korea's long-term contract

According to the Ukrainian Security Service, Ukraine struck Russia's Filanovsky oil platform and two cargo vessels in the Caspian Sea on July 25, according to a report from Jin10.

Korean refinery stocks surged this month as US-Iran military tensions drove Brent crude above $100 per barrel on the 23rd (local time), while airline stocks declined sharply. S-Oil rose 42.11% this month and closed 0.93% higher at 151,200 won on the 24th, as KOSPI fell 5.72%. The divergence stems

Brent crude futures surged past the $100-per-barrel threshold on July 25, marking the first time since May 22 as escalating military tensions between the U.S. and Iran raised concerns over Middle East supply disruptions. South Korean refiner stocks capitalized on rising crude prices and expanding re

According to Jin10, German industry groups including the German Chamber of Commerce and Industry and the German Wholesale and Foreign Trade Association criticized U.S. tariff measures on July 24 for increasing business uncertainty. Trade official Volker Treier stated that frequent policy shifts