Commodities (Crude Oil & Copper) & Macro Outlook

According to Ripple and Ondo, JPMorgan, Ripple, Mastercard and Ondo completed a cross-border transaction of tokenized U.S. Treasurys on the XRP Ledger on Wednesday. The pilot involved Ondo processing its OUSG onchain fund redemption on XRP Ledger, followed by Mastercard routing instructions via JPMo

According to BlockBeats, on May 7, multiple Federal Reserve officials warned that U.S. inflation risks are rising amid ongoing Iran conflict pushing oil prices and supply chain pressures. St. Louis Fed President Mussa llem stated policy risks have shifted toward higher inflation, with rates potentia

Trump on Truth Social warned that if Iran refuses the peace agreement, he will restart military strikes against Iran at a higher intensity; he also said he is optimistic about the progress of the talks. The draft negotiation terms include Iran temporarily pausing uranium enrichment, lifting sanctions, and easing access through the Strait of Hormuz. Both sides would halt armed conflicts starting from 4/7, and issue a one-page memorandum within 48 hours in response. Market reaction: oil prices fell by about 6%, while stocks and bonds rose together, as investors bet the deal will take shape; if the talks break down, oil prices are expected to bounce back.

According to BlockBeats, a whale address (0xebe...14070) accumulated $55.36 million in long positions on crude oil (CL and BRENTOIL) on May 6, with entry prices of $107.1 and $112.4 respectively. The address realized $586,000 in losses after partial liquidation today and remains down

According to market analysis firm The Kobeissi Letter, approximately $920 million in crude oil short positions were established on May 7 at 3:40 AM ET (3:40 PM Beijing time), 70 minutes before Axios reported that the U.S. was nearing a deal with Iran to end their conflict. The market built nearly 10

According to Hyperinsight, two major whale addresses on Hyperliquid opened a spread position (long WTI, short Brent crude) worth $27 million combined on May 6, betting on U.S. crude outperforming Brent. During today's sharp oil price decline, WTI crude weakened, pushing the two addresses' 20x levera

According to Gate data, WTI crude oil fell 8.00% intraday to $95.33 per barrel on May 6. Brent crude slipped below $101 per barrel with a 7.40% daily decline.

According to 10jqka, South Korea's April consumer price index reached its highest level in nearly two years, driven by rising oil prices stemming from Middle East tensions. This increases the likelihood of the Bank of Korea raising rates in the second half of 2026 to combat inflationary pressures. E

Flight Cancellations Surge Amid Middle East Fuel Crisis Major airlines have cancelled approximately 13,000 flights scheduled for May 2026 due to surging jet fuel costs linked to the ongoing US-Iran conflict, according to aviation analytics firm Cirium as reported by the Mirror. London Heathrow

According to a statement published by U.S. President Trump on May 6 on the Truth Social platform, Trump announced a suspension of the “Freedom Plan” being carried out in the Strait of Hormuz, citing reasons including requests from countries such as Pakistan and major progress in reaching a comprehensive final agreement with Iranian representatives; Brent crude fell 1.81% to $107.88 per barrel that day, and West Texas Intermediate (WTI) fell 1.72% to $100.51 per barrel.

Global demand for AI and computing power is surging. BlackRock CEO Fink rejects an AI bubble, saying a shortage of computing capacity will give rise to a new asset class called “compute futures.” To keep pace with the trend, BlackRock, together with Microsoft, Nvidia, and MGX, is investing tens of billions of dollars in data centers and energy infrastructure. GIP is acquiring Aligned Data Centers for about $40 billion and, together with EQT, is buying AES for $10.7 billion. Fink and others, including Brookfield, believe this represents a long-term, solid compounding investment opportunity, with returns that can last for decades.

On May 6, the United States announced the end of Operation Epic Rage and the suspension of the Hormuz Freedom Plan. Bitcoin rebounded to $81,700, easing market sentiment.

During China's May Day holiday from April 30 to May 6, global equity indices posted gains, with Nasdaq up 2.65%, S&P 500 up 1.73%, and Dow Jones up 0.89%. In commodities, base metals strengthened across the board: London aluminum rose 3.16%, nickel up 1.97%, and zinc up 1.50%. Agricultural

According to CCTV News, EU Energy Commissioner Dan Jørgensen warned on May 5 that the Middle East conflict and blockade of the Strait of Hormuz have driven up energy costs for the European Union. Since the conflict erupted, EU member states have spent over 30 billion euros in additional fossil

Iran announces the establishment of the Persian Gulf Strait Management Authority and implements a new transit mechanism for the Strait of Hormuz. Vessels must obtain authorization through official emails to pass; violations will be dealt with. The move is being advanced in parallel with the U.S. “freedom of navigation” operation, indicating that the power struggle between the U.S. and Iran in key waterways is heating up. It may raise insurance premiums and affect global shipping and energy supplies. Regional conflict risk is increasing; if Hormuz throughput declines, oil prices could rise again.

According to CME Group, the exchange reported average daily volume of 25.9 million contracts in April 2026, with growth concentrated in micro-sized contracts and energy derivatives. Micro WTI crude oil futures volume increased more than fourfold year-over-year, while cryptocurrency derivatives

LME copper prices rose 1.0% to $13,126.62 per ton in the latest trading session.