Commodities (Crude Oil & Copper) & Macro Outlook

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

Copper prices surged to a record $14,779 per ton on the London Metal Exchange (LME) on May 8 (local time). This marked the second consecutive day of all-time highs. The rally was driven by AI datacenter and power grid investment boosting long-term demand, while Chile's mining production

According to Bloomberg, London Metal Exchange (LME) copper 3-month futures hit a record high of $14,779 per ton on Sept 8, with the contract gaining 47% over the past year. The surge was driven by sustained demand from artificial intelligence data center construction and power grid expansion,

According to China Minsheng Bank Futures, copper prices hit 112,000 CNY on the Shanghai Futures Exchange on September 9, marking the highest level of the session. The rally was driven primarily by tight global inventory rather than tariff concerns. LME copper inventories fell by 1,900 tonnes, with t

According to the Kremlin, Europe faces a difficult situation and is unable to replenish natural gas reserves before winter.

The Kremlin stated today that the Nord Stream pipeline can be put back into operation immediately. The statement represents Moscow's position on the infrastructure, which has been non-operational since 2022.

According to FinanceFeeds, WTI crude oil broke through the resistance zone at $92.0 on September 9, which has held the price since the start of June. The breakout accelerated the active minor impulse wave from early August. WTI is now expected to rise further to the next resistance level at $95.00,

According to Iraqi port officials, a rescue vessel has extinguished a fire that broke out on the oil tanker New Andros, with no casualties reported so far.

According to U.S. Central Command (CENTCOM), on September 9, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed attacks on two U.S. Navy destroyers operating in the Middle East but all such attempts failed. CENTCOM stated no American naval vessels were hit. Meanwhile, the U.S. military destroye

According to Bloomberg, Japan's Ministry of Economy, Trade and Industry allocated 385 billion yen ($2.5 billion) in funding for the next fiscal year beginning April 2027 to replenish its strategic petroleum reserves. The allocation follows Japan's drawdown of reserves to cushion the impact of the

According to Gate data, Brent crude oil (XBRUSD) surged past $102 per barrel to $102.01, up 2.4% in 24 hours.

WTI crude oil advanced 1.00% during intraday trading on September 9, reaching $93.14 per barrel.