Commodities (Crude Oil & Copper) & Macro Outlook

According to HyperliquidNews, elevated funding rates for WTIOIL and BRENTOIL are a normal market phenomenon caused by futures contract rolling arrangements. Oracles reference futures contracts with expiration dates, making higher funding rates

Brent crude oil futures crossed the $100-per-barrel threshold on September 9 at 4:31 PM, marking the first time since July 24 that prices reached this level. November delivery Brent crude rose 2.15% to $100.03 per barrel, driven by escalating military tensions between the United States and Iran.

The USD-JPY exchange rate declined 0.35% to 153.379 yen as of 2:06 PM on September 9 in the Tokyo forex market. The decline followed sustained expectations that the Bank of Japan (BOJ) may accelerate its interest rate hike pace, prompting traders to unwind accumulated yen-short and dollar-long

According to Infomax, on September 9, the USD/JPY exchange rate declined 0.35% to 153.379 yen as of 2:06 p.m. Tokyo time. The drop was driven by accelerating expectations of a faster Bank of Japan rate hike, prompting traders to unwind accumulated short-yen

According to Dalian Exchange warehouse data released by Jin10 on September 9, petrochemical futures warehouse receipts showed the following changes: polyethylene (PE) stood at 4,243 contracts, flat from the previous trading day; polyvinyl chloride (PVC) rose to 118,606 contracts, up 17 contracts; po

According to Jin10, on September 9, energy, chemical, and light chemical futures extended gains at market close, while precious metals, base metals, and agricultural commodities retreated.

According to Jin10 Futures citing Fujairah Oil Industrial Zone (FOIZ) data, refined oil total inventories at Fujairah port surged to 9.982 million barrels as of the week ending Sept 7, up 3.57 million barrels from the previous week. Light

According to HSBC, the bank raised its 2027 Brent crude oil price forecast from $65 to $85 per barrel on September 9, with long-term price expectations for 2028 and beyond adjusted upward to $75 per barrel. Separately, Bank of America forecasted that if Middle East conflict persists through

Germany's benchmark electricity price has surged 34.7% to 198 euros per megawatt-hour in recent days, according to latest market data.

European natural gas futures reached their highest level since January 2023 on September 9, extending gains to a fourth consecutive trading session amid escalating tensions in the Persian Gulf. Prices surged more than 8% from last Friday, driven by concerns over global supply in coming months as

South Korean stocks crossed the 7,000 mark on September 9, with the KOSPI index closing above this level for the first time since July 23, driven by strong gains in semiconductor large-cap stocks. The rally occurred as buying focused on major technology stocks despite Middle East geopolitical

According to Jin10, Shaanxi Natural Gas stated on September 9 that industrial users' gas consumption remains stable overall. The company said it will leverage its long-distance pipeline gas allocation advantages to monitor user demand changes and optimize gas supply

According to Reuters, India's central bank may intervene in currency markets on Wednesday to support the rupee, which has come under pressure due to rising oil prices and outflows of U.S. dollar-denominated

According to Shanghai Futures Exchange data released on September 9, fuel oil warehouse inventory fell to 1,000 tons, down 11,320 tons from the previous trading day. Low-sulfur fuel oil warehouse inventory declined 2,050 tons to 3,440 tons. Pulp warehouse inventory increased 2,495 tons to 413,469 to

According to Shanghai Futures Exchange (SHFE) data reported by Jin10, as of September 9, key warehouse receipt changes across precious and base metals included: aluminum futures down 1,858 tons to 215,319 tons; refined aluminum inventories up 7,774 tons to 266,976 tons; zinc futures up 785 tons to 9

According to Bloomberg, Finnish energy company Fortum and Google signed a 22-year power purchase agreement to supply electricity from the Loviisa nuclear plant. The deal covers up to 50 percent of the plant's generation capacity and will provide economic certainty for extending operations

China's domestic futures markets posted mixed performance at midday close on September 9. SC crude oil led gains with a surge exceeding 5%, followed by methanol up over 4% and benzene up over 3%. Propylene and para-xylene each rose nearly 3%, while fuel oil, styrene (EB), liquefied petroleum gas

Japanese stocks declined as the Nikkei 225 index fell 126.55 points (0.19%) to close at 65,142.78, while the Topix index dropped 3.69 points (0.09%) to 4,046.64. The decline was driven by escalating US-Iran military tensions after the US Central Command destroyed five Iranian tankers in response to