Commodities (Crude Oil & Copper) & Macro Outlook

According to CCTV, on July 16, Iran's embassy in Lebanon stated that the Strait of Hormuz will not reopen due to U.S. pressure and will only resume transit under conditions set by Iran. The statement said the U.S. must

According to Iran's embassy in Lebanon, on July 16, the Strait of Hormuz will not be reopened due to U.S. pressure and will only resume shipping under conditions set by Iran. The embassy stated that the United States must accept this reality, and disputes can only be resolved through dialogue or by

On July 14, the U.S. Bureau of Labor published June 2026 CPI data. June’s CPI year over year, not seasonally adjusted, rose 3.5%, below the market expectation of 3.8% and significantly down from the prior value of 4.2%. Core CPI rose 2.6% year over year, also below the expectation of 2.8% and the prior value of 2.9%. Seasonally adjusted CPI fell 0.4% month over month, the largest one-month drop since April 2020, and the first time in six years that CPI has shown negative month-over-month growth.

According to sources, all crude oil shipments from Iraq's petroleum export terminals have been halted following a drone collision with an oil tanker. The sources did not provide specific timing details for when operations may

According to Jin10, the Eurozone's May trade deficit widened to €50 billion (seasonally adjusted), marking the largest deficit since January 2023, driven by surging energy imports and weakening export growth. Energy trade deficit reached €303 billion in May, significantly above the pre-conflict

According to U.S. officials, Iraq and Syria plan to rebuild a defunct cross-border oil pipeline to transport crude from northern Iraqi oilfields to Syria's Mediterranean port, bypassing the Strait of Hormuz, according to reports by Jin10 on July 14. The pipeline, originally

According to Dacheng Asset Management, its Dacheng Crude Oil Securities Investment Fund (QDII), Class A RMB (ticker: 161129), experienced significant premium on the secondary market on July 16, 2026. The fund's closing price was 1.756 yuan per share, while the net asset value stood at 1.5886 yuan as

According to Hengyin Futures, on July 16, China's SC crude oil futures main contract SC2609 closed at 514.7 yuan per barrel. The Strait of Hormuz geopolitical tensions between the U.S. and Iran continue to elevate, pushing Middle Eastern crude export risks higher and supporting a premium in supply-s

According to Mitsubishi UFJ Financial Group, U.S. inflation data came in below expectations on July 16, with the Producer Price Index declining last month. However, the latest escalation of U.S.-Iran tensions could push oil prices higher. Analysts noted that gold's near-term direction hinges on

According to Jin10 Futures, Iran's semifinished steel material exports face near-total paralysis on July 16 following a vessel carrying 43,000 tons of billets sinking in the Strait of Hormuz and new U.S. naval restrictions implemented from July 14. The incident has forced widespread shipping

According to Jin10, India is seeking to localize manufacturing of approximately $51 billion worth of imported goods on July 16, aiming to reduce dependence on overseas suppliers. The initiative targets key manufacturing inputs across industries including textiles and solar panels, with about 100

From 08:15 to 08:30 (UTC) on July 16, 2026, BTC rose modestly by 0.33% over 15 minutes. The trading range was 63,890.3–64,166.4 USDT, with a swing of 0.43%. Despite the small short-term gain, BTC is still down about 0.53% over the past 24 hours. The current quote is $64,250, and overall the market is clearly under pressure. The key drivers behind this unusual move are the sharp escalation in the US–Iran military conflict. The US has reinstated a maritime blockade against Iran and, for the first

U.S. stock futures declined early Thursday, with Nasdaq futures down 0.5%, S&P 500 futures down 0.1%, and Dow futures flat as of 4:00 a.m. ET, as investors monitored escalating geopolitical tensions and semiconductor sector weakness. The declines followed a fifth straight day of U.S. military

According to Yonhapnews, South Korea's EcoproBM held a shareholder meeting on July 16 to address concerns over its 1.2 trillion won capital increase. The company said 765 billion won of the funds will be invested in direct ownership stakes in Indonesia's BNSI nickel refinery. CEO Kim Jang-woo

The Trump administration received a briefing on potential ground troop deployment to Iran on the 14th (local time), Axios reported on the 15th (local time). The briefing presented ground operations as one option to resolve the five-month conflict. The consideration follows a six-day exchange of

According to Singapore Economic Development Board (EDB), as of the week of July 15, Singapore middle distillate stockpiles rose by 396,000 barrels to 9.308 million barrels, marking a 9-week high.

According to Singapore Enterprise Development Board, in the week to July 15, Singapore fuel oil inventories fell 62,000 barrels to 19.115 million barrels, marking a 4-week low.

According to Singapore's Enterprise Singapore (ESG), light distillates stocks fell 417,000 barrels in the week ending July 15, reaching a six-week low of 11.828 million barrels.

According to Axios, on July 15, Trump's administration received a briefing on potential ground force operations as one option to resolve the five-month conflict with Iran. The Wall Street Journal reported that the reviewed plans include intensified airstrikes, bombing underground nuclear