Commodities (Crude Oil & Copper) & Macro Outlook

Central banks including the Bank of England and the European Central Bank are monitoring crack spreads — the difference between crude oil and refined fuel wholesale prices — as a key inflation indicator. The shift follows a global refining shortage that has pushed gasoline and diesel costs sharply h

According to Jin10, Germany's wholesale electricity prices rose to 191.82 euros per megawatt-hour on Thursday (Sept. 9), the highest level since June, while evening peak contracts reached 460.86 euros per megawatt-hour at 7 p.m., marking the highest for that hour since 2024, per Epex Spot data.

According to Jin10, Russia's Arctic LNG 2 project accelerated natural gas production in July and August, with daily output exceeding 27 million cubic meters, nearly double the volume from August 2025. The project, led by Novatek, exported over 500,000 tons monthly in both months, setting records. Ac

According to Jin10 Futures, as of 21:20 on September 9, commodity options led by crude oil derivatives posted significant gains. The top five gainers were: crude oil October 2610 call options (strike 800) up 184.62% to 3.7 yuan/barrel; PTA October 2610 calls (strike 6600) up 164.71% to 45.0

According to UK Central Bank Governor Andrew Bailey, on Tuesday he signaled growing concern about the widening crack spread—the price gap between refined fuel and crude oil—as a key inflation gauge. Bailey echoed economists at the European Central Bank and elsewhere who are increasingly monitoring f

China's fuel oil main contract rose 4.00% intraday on September 9, trading at 4,093 yuan per ton.

In the night session opening on September 9, Chinese futures mainline contracts rose broadly with SC crude oil surging over 4%, fuel oil up more than 3%, and pure benzene rising nearly 3%. Low-sulfur fuel oil (LU), asphalt, styrene (EB), and liquefied petroleum gas (LPG) each gained over 2%. On the

Korean crude oil exchange-traded funds (ETFs) surged over 25% from April 7 to May 8 as Middle East supply disruptions drove international oil prices near $100 per barrel. Brent crude reached $97.92/barrel on June 8, the highest level since July 24, while WTI hit $93.03/barrel, fueled by escalating

According to Korea Exchange data, Korean crude oil ETFs rose between 25.88% and 25.70% from August 7 to September 8 as Middle East tensions escalated. Brent crude for November delivery closed at $97.92 per barrel, its highest level since July 24, reaching near $100 during intraday trading. The

According to Guru Club, Novatek's CEO announced on September 9 that the company is in deep negotiations with Vietnam over liquefied natural gas supply, with a target to begin deliveries in 2027.

WTI crude oil rose 3% intraday today (September 9), trading at $95.83 per barrel.

As of 8:30 p.m. Beijing time on September 9, WTI crude oil futures rose 1.79%, while U.S. natural gas futures fell 1.78%.

On Wednesday, UK and European government bonds faced renewed selling pressure as oil and natural gas prices surged. The UK's 10-year gilt yield rose 5 basis points to 5.23%, while Germany's equivalent climbed 5 basis points to 3.42%. Brent crude oil broke above $100 per barrel for the first time

According to Jin10, Dow is considering exiting its 35% stake in Sadara Chemical Company, a $20 billion joint venture with Saudi Aramco, as part of restructuring amid prolonged industry downturn on September 9. Saudi Aramco is likely to acquire Dow's stake and increase its holdings. Founded in 2011,

According to a joint announcement, the Shanghai Futures Exchange and London Metal Exchange (LME) will launch the LME Shanghai hot-rolled coil contract for trading on October 27, 2026. The move expands LME's presence in Asia and introduces a new futures instrument for the regional steel

According to the Russian Finance Ministry on September 9, oil and gas revenue in the federal budget for January through August reached approximately 5.02 trillion rubles, down 16.7% year-over-year. The ministry cited a weakening U.S. dollar and lower oil prices in late 2025 and early 2026 as

According to market reports on September 9, escalating US-Iran military conflicts in the Middle East have directly targeted critical energy infrastructure, pushing crude oil prices toward $100 per barrel, while diesel crack spreads surged past $100 on

Angola's Finance Minister stated the country hopes to reenter the European bond market in 2027 if conditions permit. The government also aims to maintain oil production at or above 1 million barrels per day, with 2027 output projected to remain slightly below current

According to the Shanghai Futures Exchange (SHFE), the exchange set benchmark reference prices for hot-rolled coil options and stainless steel options on September 9, 2026.

According to Iraq security and maritime sources, on September 9, a foreign tanker flying a Panama flag was struck by a drone attack in Iraqi territorial waters during a ship-to-ship cargo transfer operation. The strike directly hit the vessel, causing it to catch fire with partial hull damage. The t