Commodities (Crude Oil & Copper) & Macro Outlook

According to Guru Club, Brent crude oil broke through $111 in off-market trading on October 24, with intraday gains exceeding 2.1%.

From 0:00 to 1:00 UTC on October 24, 2026, BTC plunged 0.30%, retreating to the 80,947.8–81,212.1 USDT range, with a 0.33% amplitude, as market risk appetite fell sharply. The main driver of this move was the escalation of the Middle East conflict. Attacks on shipping in the Strait of Hormuz hit a period high, with Iran claiming that seven tankers were damaged or caught fire, sharply raising risks to energy transportation. Meanwhile, concerns that the US-Iran conflict could escalate further drov

Iran warned it could expand retaliation to civilian infrastructure in neighboring Gulf states, including airports and oil pipelines, if US and Israeli airstrikes resume. The Wall Street Journal reported on Oct. 23 that Iran conveyed the position through public statements and private diplomatic

According to WSJ citing sources, the Trump administration plans to cancel 50% tariffs on certain Canadian agricultural and forestry products, with a possible announcement as early as Friday (Oct 25). The administration may simultaneously raise tariffs on other Canadian goods to offset the

According to the U.S. Department of Agriculture (USDA), this Friday the agency's National Agricultural Statistics Board corrected its September corn forecast due to a processing error. The revision came after the bureau's earlier report—which predicted higher-than-expected U.S. corn harvest

According to Yonhapinfomax, the Korean won weakened to 1,326.20 per US dollar on October 24, up 1.60 won from the previous Seoul session close of 1,324.60 won, as Middle East military tensions and comments from a US official suggesting a potential strike on Iran drove global risk-off sentiment and b

From 22:00 to 23:00 UTC on October 23, 2026, BTC edged down 0.05% over the hour, trading in a range of 81324.0 - 81438.7 USDT, with an amplitude of 0.14%. Overall volatility was limited, but rising geopolitical tensions dampened risk appetite, while bearish technical signals combined with a shallow order book to amplify short-term price movements. The main driver of this move was the risk of escalating U.S.-Iran tensions. Attacks on shipping in the Strait of Hormuz reached a three-month high, an

According to Barclays, on October 24, hopes for a rapid resolution to the Iran conflict are gradually fading, intensifying pressure on an already tight physical oil market.

The US dollar index rose for the first time in four days on October 23, gaining 0.165% to 101.800 as of 4 PM Eastern Time, according to Yonhap Infomax. The rebound came as US Treasury yields recovered from the previous day's sharp decline and international oil prices surged, with Brent crude

According to Bloomberg, North American Blue Energy Partners Inc. (Nabep) is currently deploying its sixth drilling rig in Venezuela to expand oil production in the western region, where output has reached a record 115,000 barrels per day, CEO Alejandro Betancourt said. The company plans to deploy a

On Friday, Oct. 23, U.S. stock indices declined sharply as crude oil prices surged past $100 per barrel amid renewed Middle East conflict concerns. The Dow Jones Industrial Average fell 652.82 points, or 1.23%, to 52,215.16; the S&P 500 dropped 0.52% to 7,623.68; the Nasdaq Composite slipped 0.21% t

US Treasury yields rose across all maturities during afternoon trading on October 23, with the 10-year yield climbing 3.60 basis points to 4.9880%. The yield increases occurred as safe-haven buying momentum slowed following the easing of artificial intelligence over-investment concerns triggered

US Treasuries posted their strongest advance in more than a year on Oct. 22 as AI-related stocks tumbled, reviving the bond market's role as a safe haven. The inverse correlation between US Treasuries and AI-related stocks strengthened to its highest level in about a year, with Treasury prices

According to the UK Maritime Trade Operations (UKMTO), an oil tanker was struck by an unidentified projectile while exiting the Strait of Hormuz on Oct 22 at 17:15 UTC (01:15 Beijing time on Oct 23), approximately 7 nautical miles northeast of Oman's Limah. The vessel continued to its next port of c

Large speculators in CME Bitcoin futures held a net long position of 2,418 contracts for the week of October 20, 2026, according to the Commodity Futures Trading Commission's Commitments of Traders report released October 23. The figure represents a slight pullback from the prior week's 2,534 contra

US stocks declined on October 23 (US Eastern Time), with the Dow Jones Industrial Average falling 652.82 points (1.23%) to 52,215.16, while the S&P 500 dropped 39.75 points (0.52%) to 7,623.68 and the Nasdaq Composite slid 53.52 points (0.21%) to 25,955.34. The decline was driven by rotation

According to the Commodity Futures Trading Commission's latest Commitments of Traders report released October 23, large speculators in CME Bitcoin futures held a net long position of 2,418 contracts for the week ending October 20, 2026, down slightly from 2,534 contracts the prior week. The report

WTI crude surged $3.80 to $103.27 per barrel on October 23 (US Eastern time), while Brent crude climbed $3.55 to $116.72 - its highest close since April 29. The rally was driven by escalating Middle East military tensions involving Saudi Arabia, Yemen's Houthi rebels, and renewed US-Iran

According to GrafTech (EAF-US), the graphite electrode maker expects weighted average selling prices in the fourth quarter to rise mid-single digit percentage sequentially from Q3, with 2027 prices expected to be significantly higher than 2026, as higher-priced new orders begin deliveries on

Emerging market currencies declined broadly on Friday, with stocks recording their fourth consecutive week of losses as oil prices surged to $117 per barrel. The South African rand, Chilean peso, and Polish zloty were the worst performers. The Brazilian real bucked the trend, appreciating 1.3%