Commodities (Crude Oil & Copper) & Macro Outlook

According to Bloomberg, Iran and Oman are in final stages of reaching an agreement on Strait of Hormuz navigation management, expected to be completed within days, Iran's Foreign Ministry spokesman Esmail Baghaei said on Monday (Sept 7). The two countries plan to establish a temporary secure

According to President Volodymyr Zelensky's official statement on Telegram on Monday, Ukraine's long-range strike forces attacked oil refineries in Russia's Perm and Tatarstan regions on Sunday evening. Zelensky confirmed the operation but did not provide additional details. The strikes resumed

According to Guru Club, citing data from Chile's central bank, the world's largest copper producer saw exports drop to 4.62 billion dollars in August, down 14% from July and 3.2% year-over-year—the lowest monthly figure since July 2025. The decline occurred despite copper prices averaging 40%

According to German inland waterway authorities (WSV), the Rhine River's key navigable point at Kaub, near Koblenz, dropped to approximately 34 centimeters on September 7, compared to 50 centimeters the previous week. The declining water level has forced cargo vessels to reduce loads again, with

According to Jin10 data on September 7, South Africa's second-quarter GDP is expected to contract 0.1%, ending a decade-long streak of quarterly growth, as the Iran conflict suppressed domestic demand and key industries shrank. A median survey of 14 economists forecast the contraction, down from a 0

According to BlockBeats, on September 7, the United Arab Emirates' presidential advisor Anwar Gargash announced that the UAE is actively building alternative energy export and trade routes to ensure its core economic interests remain independent of U.S.-Iran conflict. Gargash stated, "Our energy exp

According to Guru Club, the Baltic Dry Index (BDI) fell 53 points to 3,575 on Sept 7, ending a three-day rally, as capesize and panamax vessel rates weakened. The Capesize Index (BCI) dropped 141 points to 6,286, down 2.2%, while the Panamax Index (BPI) declined 17 points to 2,431, down 0.7%. The

According to Caixin Futures Research Report, Shandong 70 bitumen reached 5,330 yuan/ton on September 7, up 60 yuan/ton day-on-day, driven by geopolitical tensions and refinery production limits. Domestic combined bitumen inventory totaled 122.1 million tons, declining 8.3 million tons from September

According to Jin10, on September 7, U.S. and Canadian equity markets closed for Labor Day. CME precious metals and crude oil futures trading halted early at 02:30 Beijing time on September 8, while equity index futures ended at 01:00 Beijing time. ICE Brent crude oil futures halted at 01:30 Beijing

Brent crude approached $98 a barrel and West Texas Intermediate traded above $92 on Monday, Sept. 7, as renewed U.S.-Iran attacks around the Strait of Hormuz intensified concerns about Middle East supply disruptions. The rally was driven by tight diesel supplies, falling U.S. crude inventories, and

On Sept. 7, Brent crude approached $98 a barrel amid escalating U.S.-Iran tensions around the Strait of Hormuz, according to TradingView data. WTI crude traded above $92, with the week-long rally extending gains as tanker traffic through the strategic waterway fell to its lowest level since May. U.

According to Jinshi Data on September 7, Jereh Group, a leading oilfield services equipment manufacturer, indicated that the impact of U.S. Executive Order 14420 on its current business is limited. The company has received the first advance payment on a gas turbine contract signed in July valued at

According to Jin10 data, Iraq's State Organization for Marketing of Oil (SOMO) significantly narrowed crude oil discounts on September 7, effectively raising prices for oil loaded from the Persian Gulf this month. The Iraqi government said Friday it is seeking to lease tankers to transport crude

According to Jin10, WTI crude oil futures rose 1.27% and U.S. natural gas futures fell 0.17% as of 20:30 Beijing time on September 7.

According to Jin10 Futures, as of 20:30 Beijing time on Sept. 7, New York gold futures declined 0.82%, silver futures fell 0.83%, and copper futures dropped 0.01%.

Ukraine struck oil-processing facilities at the Lukoil-Permnefteorgsintez refinery in Russia's Perm region and the TANECO facility in Nizhnekamsk, Tatarstan, overnight, continuing a campaign of long-range drone strikes. The attacks targeted two of Russia's most significant fuel-processing hubs,

According to Bloomberg, Thailand's sugar output will decline at least 17% in the 2026-27 season starting October due to drought conditions, dropping to below 10 million tons from 12 million tons in the previous season, according to Thai Sugar Millers Corp director Rangsit Hiangrat. As the world's s

According to Ukrainian officials, Ukraine conducted overnight strikes on oil refineries in Perm and Tatarstan on September 7, resuming attacks following a U.S. envoy's weekend visit to Moscow. President Volodymyr Zelensky confirmed that long-range forces were deployed against refineries in both

According to Financial Times, Saudi Aramco's oil infrastructure was targeted on Monday, marking the second attack in one month. The incident follows a similar strike that temporarily halted part of the company's refining capacity. Authorities are currently assessing damages from the latest attack.

According to Sanlì Futures research on September 7, methanol prices remain elevated amid tight supply constraints, with port inventory at 644,000 tons as of September 2, down 44,100 tons month-over-month and near historic lows. Enterprise inventory declined to 298,100 tons, continuing its