Commodities (Crude Oil & Copper) & Macro Outlook

According to sources, the board controlled by Venezuela's opposition will halt its regulatory oversight of U.S. oil refiner Citgo Petroleum as early as September.

U.S. Secretary of State Marco Rubio declared the United States aims to economically "choke" Iran, stating that attacks targeting Iranian oil tankers will continue. The statement signals an intensified approach to U.S. economic pressure on Iran and underscores the administration's commitment to a

On Wednesday (Sept 9), closing in New York, ICE raw sugar futures rose 1.38% and ICE white sugar futures gained 1.95%. ICE Arabica coffee fell 1.46%, while Robusta coffee rose 0.43%. New York cocoa futures gained 0.41% to $5,937 per ton, and ICE cotton futures added 1.26%. CBOT rapeseed futures

According to Jin10, crude oil futures prices rose on September 10 at market close. WTI crude oil futures for October delivery increased $3.02 to $96.05 per barrel, up 3.25%. Brent crude oil futures for November delivery climbed $3.29 to $101.21 per barrel, up 3.36%.

President Trump warned on September 9 that oil and gas prices will remain elevated through the November midterm elections, citing the ongoing US-Iran conflict as the primary cause. Speaking before departing for Texas and the Republican Party's midterm convention, Trump predicted prices would

President Trump said on September 9 that oil and gas prices are expected to remain elevated through the November midterm elections due to the ongoing US-Iran conflict affecting energy markets. Speaking before departing for Texas, Trump predicted prices would drop after the elections conclude.

According to Bloomberg, Canadian pipeline company Enbridge is nearing an agreement related to a major U.S. oil pipeline, according to sources familiar with the matter.

According to Bloomberg, on Wednesday, September 9, Chicago Board of Trade (CBOT) wheat futures fell 2.44% to $7.2875 per bushel as the Bloomberg Commodity Index for grains retreated 1.23% to 34.7017 points. The session marked a pullback after earlier gains; wheat had risen to $7.5550 earlier in the

Brazil's President Luiz Inácio Lula signed an executive order on September 9, reducing PIS/PASEP and COFINS taxes on gasoline by 0.63 real per liter. The measure aims to lower fuel costs for consumers.

Brazilian authorities issued an executive order on Wednesday morning establishing a diesel subsidy at 1 Brazilian real (BRL) per liter.

According to BlockBeats, on September 10, U.S. President Trump stated that the Iran war will end immediately after the midterm elections, adding that the United States is not seeking a deal but negotiations remain possible. Trump previously indicated military action against Iran would not last

According to Jin10, Shanghai gold, silver, and SC crude oil futures closed higher on September 10 at 2:30 AM. Shanghai gold main contract rose 0.62% to 956 yuan per gram, Shanghai silver main contract climbed 2.40% to 16,529 yuan per kilogram, and SC crude oil main contract surged 7.00% to 773 yuan

President Trump stated today that he would lower gasoline prices to below $2 per gallon, comments made amid the 2026 midterm election cycle. Trump also indicated that oil prices will decline following the midterm elections, though emphasized that the gasoline price reduction will require some

The U.S. Commodity Futures Trading Commission (CFTC) secured court orders directing residents from Texas and Florida to pay over $500,000 in penalties for commodity pool fraud. The orders also impose trading bans on the individuals involved in the fraudulent activities. The CFTC emphasized its

Mexico's government reduced rescue funding for state-owned oil company Pemex by 70% in its new budget proposal.

According to ITAR-TASS, Russian Finance Minister Anton Siluanov stated that Russia is considering adjusting the oil price benchmark in its budget rules to $50 per barrel.

According to Saudi media Alhadath citing Iranian media, a tanker was attacked in the Strait of Hormuz on September 10.

According to swap market data, traders are increasingly betting on rate hikes from the European Central Bank and Bank of England as rising energy prices threaten to keep inflation elevated over the next year. The ECB is expected to hike rates by approximately 90 basis points by December 2027,

According to the U.S. Energy Information Administration (EIA), the average WTI crude oil price for September is forecast at $84.65 per barrel, compared to $80.88 per barrel in August, representing a month-on-month increase

The U.S. Energy Information Administration (EIA) finalized the inputs for its short-term energy outlook forecasting model on September 3. The forecast does not account for recent Middle East developments.