Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin Shi Futures, as of 8 p.m. Beijing time on May 8, WTI crude oil futures rose 0.35% and U.S. natural gas futures rose 0.90%.

According to the U.S. Central Command, over 70 tankers have been blocked from entering or leaving Iranian ports as of May 8.

According to Ukraine's Security Service, Ukrainian forces struck Lukoil's oil refinery in Perm for the second consecutive day on May 7-8. The facility is a key Russian energy infrastructure asset.

According to Commerzbank analysts, crude oil prices remained range-bound this week as traders await developments in U.S.-Iran peace negotiations, following recent military exchanges that heightened concerns over the fragile ceasefire. The bank noted that even if an agreement is reached, oil price de

According to Jin Ten Data, on May 8, President Trump posted that oil prices have declined 25%, or approximately $30 per barrel, since the Biden administration, falling to $90 per barrel.

According to Xinhua News Agency, two Iranian oil tankers, SEASTARIII and SEVDA, were attacked near the Strait of Hormuz on May 8. Crews aboard the vessels transmitted radio distress calls requesting assistance following the

According to Tanker Trackers, three empty Iranian oil tankers broke through the U.S. blockade and returned to Iran over the past two days.

According to Reuters, Iran established the Persian Gulf Strait Authority (PGSA) on May 8 to approve ship transits through the Strait of Hormuz and collect tolls from vessels passing through the chokepoint that carries 20 percent of global oil trade. The PGSA circulated an application procedure

According to 金十数据, Libya's Zawiyah refinery, located 40 kilometers west of Tripoli, entered emergency status on Friday, May 8, due to clashes erupting near the facility. The refinery, which operates Libya's largest active production capacity of 120,000 barrels per day, is connected to the Sarir

According to EU announcement on May 8, the European Commission will allow European airlines to use Jet A fuel, a type more commonly available in the United States, to address supply disruptions caused by the Hormuz Strait closure. The move aims to help carriers cope with fuel shortages after the

Turkey's Energy Minister announced plans to reach a new liquefied natural gas agreement with Algeria this year, with the goal of transporting part of the gas supply to Southeast Europe.

According to China's Foreign Ministry spokesperson Lin Jian, a Marshall Islands-flagged oil tanker with Chinese crew members was attacked near the port of Al Fujairah outside the Strait of Hormuz on May 8, with its deck catching fire. The Foreign Ministry confirmed that as of the latest update, no c

According to Shanghai Futures Exchange data released by Golden Ten Futures on May 8, energy and chemical futures warehouse inventories saw mixed movements. Fuel oil inventories declined sharply by 54,320 tons to 64,030 tons, marking the largest single-day drop. Low-sulfur fuel oil warehouse inventor

According to China's National Development and Reform Commission (NDRC), domestic fuel prices will rise effective 24:00 on May 8. The NDRC Price Monitoring Center noted that during the current pricing cycle (April 21 24:00 to May 8 24:00), international oil prices rose initially then declined.

Indonesia plans to launch electric vehicle incentives in early June 2026 to cut fuel use and reduce oil imports, according to Finance Minister Purbaya Yudhi Sadewa. The government has prepared a budget for the program targeting 100,000 electric cars and 100,000 electric motorcycles this year.

According to President Zelenskyy, Ukrainian forces attacked Russian oil facilities located in Yaroslavl on May 8, approximately 700 kilometers from Kyiv.

According to Jin Ten Data, Germany's industrial output fell sharply in March due to energy price surges triggered by Middle East conflict, casting a shadow over the country's manufacturing recovery this year. The surge in oil and natural gas prices has particularly impacted Germany, a major energy i

Baltic Shipping Index European route main contract futures surged 4.00% intraday on May 8, reaching 2,383.0 points.

According to CCTV News, on May 1, the Japanese government began additional releases of strategic petroleum reserves from an oil base in Ibaraki Prefecture. The move follows a sharp decline in crude oil imports to Japan due to Middle East tensions, prompting the government to tap reserves to