Commodities (Crude Oil & Copper) & Macro Outlook

Brent crude settled at $116.72 per barrel on Friday 23 October 2026, up $3.55 or 3.14 percent, the highest close since 29 April. The advance followed unconfirmed Houthi claims on Saturday 24 October of strikes on Saudi Aramco facilities in Yanbu, the Rabigh refinery, and the East-West Pipeline; the

According to PPP prediction market tool monitoring, the probability of WTI crude oil surpassing $110 per barrel for the remainder of October on Polymarket fell to 31% in the last 24 hours, down 19%. The shift comes as Trump stated today that oil prices will fall soon. Trump previously claimed the

Iran's Foreign Minister Abbas Alaghchi said on October 25 that the Strait of Hormuz's management and shipping lanes will not remain the same following U.S.-Israel military operations against Iran. Alaghchi stated the region has undergone fundamental and strategically significant

According to Guru Club, on October 25, Russian Deputy Prime Minister Novak stated Russia is prepared to supply any volume of diesel to the United States.

According to Libya's National Oil Corporation chairman, the Rashad gas field was activated yesterday, with peak daily production capacity reaching 50 million cubic feet.

According to IRNA, Pakistan reopened the Gabd-Rimdan border crossing in Gwadar on October 25 after a brief closure lasting less than a week. Trucks carrying liquefied natural gas and essential supplies have resumed transit through the crossing. The closure had been imposed for security and

According to IRNA, Iran's Acting Oil Minister Hamid Bavanat announced on October 25 that Iran will advance natural gas cooperation with Russia and other GECF (Gas Exporting Countries Forum) member states at the forum's summit in Moscow. Bavadat said Iran will focus on oil and gas field

According to the Financial Times, Mercuria, one of the world's largest commodity traders, is suing the 282-year-old Baltic Exchange on Monday. The core dispute centers on whether the exchange should continue publishing benchmark shipping rates for tanker routes through the Strait of Hormuz

In US Stock Market News, the S&P 500 index set a fresh record high recently, but faces rising headwinds from multiple directions. The index currently trades at a Shiller Cyclically Adjusted Price-to-Earnings (CAPE) ratio of 41.8, only slightly below its all-time high of 44.2 from the peak of the

South Korean bond markets will fluctuate this week (Oct 26-30) based on domestic and international economic indicators and political events, with the US Federal Open Market Committee (FOMC) scheduled to announce its rate decision early morning Oct 29 Korean time following a two-day meeting Oct 27-28

According to Yonhapinfomax, South Korea's government bond market this week (October 26-30) will be driven by key economic data releases and political events, with the U.S. Federal Reserve's interest rate decision on October 29 taking center stage as midterm elections approach. The three-year governm

According to Jin10, on October 25, President Trump responded to criticism over elevated oil prices, stating the U.S. is earning money "in an unprecedented way." Trump dismissed concerns about consumers suffering at gas pumps, saying "I don't care. We're making big money." He added that oil prices

According to BlockBeats, metal trading firms across the globe achieved record profits in the fiscal year ending September, with traders reporting career-high incomes during the LME Week conference that concluded on October 25. Toko Group, competing with Glencore for the largest metal trading

According to the U.S. Department of Agriculture (USDA), the agency on Friday corrected corn data released in September due to a processing error discovered by the National Agricultural Statistics Service. The correction followed concerns raised after the department's crop report this month

Kumho Petrochemical's Q3 operating profit is forecast to decline 23.96% year-over-year to 64.1 billion won, despite revenue climbing 29.56% to 2.13 trillion won. The profit contraction stems from raw material cost lag effects and weakening downstream demand, which compressed product spreads during t

According to Yonhap Infomax's compilation of four major securities firms' forecasts, Kumho Petrochemical reported Q3 consolidated revenue of 2.13 trillion KRW, up 29.56% year-over-year, but operating profit declined 23.96% to 64.1 billion KRW. The profit contraction was driven by raw material cost l

US electrical equipment manufacturing capacity has fallen 9% since 2019 even as electricity demand from AI infrastructure continues rising, according to analysis shared by venture capital firm a16z. Prices for electrical equipment surged 69% over the same period, with transformer and switchgear

According to a16z analysis, US electrical equipment manufacturing capacity has declined 9% since 2019 as of mid-2026, while prices for the same equipment surged 69% during the period. Despite plants operating at 87% utilization—the highest level since 2008—actual output fell 7%, indicating

According to Jin10 Data, former U.S. President Barack Obama said on October 25 that Iran effectively controls the Strait of Hormuz, a critical oil shipping route for global markets. Obama attributed rising oil prices, diesel costs, and broader commodity price increases to Tehran's influence over the

According to Jin10, metal traders posted record profits on Friday (October 24), with multiple traders reporting career-high incomes. Trafigura, one of the world's largest metals traders, achieved approximately $2 billion in metals trading profit for the fiscal year ending September, according to