Commodities (Crude Oil & Copper) & Macro Outlook

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

July 16, 2026, 07:30–07:45 (UTC): Within 15 minutes, BTC fell 0.42%, with the price retreating to the $64,208–$64,501 USDT range (Ampl 0.46%). Although the decline looks notable, overall 24-hour volatility is extremely small—only -0.02% to -0.04%—which fits a short-term correction within a narrow-range consolidation, with the market mostly in wait-and-see mode. The core driver behind this move is an escalation in the US–Iran geopolitical conflict. The US launched another round of airstrikes targ

According to Ukraine's Security Service, Ukrainian forces struck two Russian shadow fleet tankers in the Black Sea on July 16 using Mamai marine drones. The damaged vessels, Louise1 and Banda, have been regularly transporting oil for Russia. The Russian government has not yet commented on the

According to Bloomberg, the U.S. launched its fifth consecutive strike on Iran early Thursday (July 16), targeting military installations and a sanctioned oil tanker near the country's main crude export terminal. Iran responded by firing missiles at U.S. bases in Kuwait and Jordan, with Jordanian au

US electricity supply reached 2,234 terawatt-hours in the first half of 2025, up 3% from the prior year and marking a record high, according to clean energy think tank Ember reported by Yonhap Infomax on an unspecified date. The US Energy Information Administration (EIA) attributed much of this

According to Oil Price, citing Ember research and data from the U.S. Energy Information Administration, American electricity supply reached a record 2,234 terawatt-hours in the first half of 2026, up 3% year-over-year. The surge marks the second consecutive year of all-time highs in both power

According to Jin10 Futures reporting on Shanghai Futures Exchange data, as of July 16, pulp futures warehouse inventories increased to 317,833 tonnes, up 2,171 tonnes from the previous trading day. Pulp futures factory inventories held steady at 20,000 tonnes. Among other energy and chemical futures

According to Jin10, French energy giant Total Energies said on July 16 that its second-quarter oil trading business performed strongly amid market volatility triggered by Middle East tensions, while natural gas trading faced headwinds. The company forecast oil trading profits will maintain first-qua

According to Iran's student news agency ISNA, Iranian officials stated on July 15 that the Strait of Hormuz will remain closed until the U.S. accepts Iranian law. Meanwhile, the U.S. military reported striking an oil tanker attempting to reach Iranian ports. Two Iranian crude oil tankers have

According to Bank of Korea Governor Shin Hyun-song on July 16, real gross domestic income (GDI) surged 13.2% year-on-year in the first quarter, significantly outpacing the 3.8% real GDP growth, primarily due to rising

TotalEnergies estimated the impact of the Middle East conflict on its second-quarter operations at 210,000 barrels of oil equivalent per day, down from the 360,000 BOE/day impact guidance provided for the first quarter.

According to Morgan Stanley, the ECB is expected to hold interest rates unchanged at next week's policy meeting, as reported by Jin10 on July 16. The analysis notes that recent oil price fluctuations create fundamental uncertainty in energy prices, which is sufficient reason for the central bank to

According to CME data, on July 15, trading and open interest in energy and precious metals diverged. Gold, silver, and WTI crude all saw declines in both volume and open positions. Gold volume fell by 54,619 contracts to 143,347, with open interest down 2,417 to 381,272. Silver volume decreased by 1

According to Jin10, the Chicago Mercantile Exchange (CME) energy commodities trading volume report for July 15 has been updated in the Jin10 data center.

The UK government nationalized British Steel today (July 16), bringing the company under state ownership.

Gate News: According to the latest Gate TradFi data, GAS (Gasoline) has dropped by 6% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

The Bank of Korea raised its benchmark interest rate to 2.75% on July 16, according to its monetary policy committee decision. Consumer price inflation accelerated to 3.0% in the second quarter, driven by surging crude oil prices and a weaker Korean won, marking a sharp increase from the previous qu