Commodities (Crude Oil & Copper) & Macro Outlook

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.

Gate News: According to the latest Gate TradFi data, COCOA (Cocoa) has surged by 14% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Gate News: According to the latest Gate TradFi data, COCOA (Cocoa) has surged by 12% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

According to EU Energy Commissioner Dan Jørgensen, on May 5, the world is facing its most severe energy crisis in history. Since the escalation of the Middle East situation, EU countries have spent an additional $350 billion on fuel imports without receiving any additional

According to Gate data, Brent crude oil fell to $110 per barrel today, down 2.08% intraday. WTI crude oil dropped below $104 per barrel, declining 2.10% in the session.

According to S&P Global, non-oil companies in the United Arab Emirates raised prices on May 5 at the sharpest rate in almost 15 years as supply disruptions from the US-Israeli conflict with Iran compressed profit margins. The UAE private sector's purchasing managers' index (PMI) fell from 52.9 in Ma

According to a notice from Iraq's State Organization for Marketing of Oil (SOMO) dated May 3, Iraq is offering substantial discounts on its flagship Basra crude to long-term contract buyers willing to transit the Strait of Hormuz to collect shipments. For crude loaded between May 1-10, the discount

Brazil's National Agency of Petroleum, Natural Gas and Biofuels (ANP) announced on April 4 that the country's combined oil and gas production in March reached 5.531 million barrels of oil equivalent per day, marking a historical record. The production surge reflects both operational expansion and

According to Gate data, gold rose to $4,539.50 per ounce with a 0.34% daily gain today, while silver gained 0.18% to $72.815 per ounce. The Bitcoin volatility index (BVIX) climbed 0.86% to 40.87, and the Ethereum volatility index (EVIX) surged 2.89% to 57.00. European equities showed weakness, with

According to ChainCatcher, a whale at address 0x320 opened a $10 million BTC short position with 21x leverage 1 hour ago, with an entry price of $80,251.8 and liquidation price of $108,669. The whale also holds $11 million in ZEC shorts, $8.4 million in Brent oil shorts, and $6.6 million in Amazon s

According to CNBC, U.S. crude oil exports rose to 5.2 million barrels per day in April, up over 30% from 3.9 million barrels in February. The export volume reached its highest level since April 2016, according to data from

On May 4, Iran fired 15 missiles and 4 drones at the UAE. The UAE air defenses intercepted them, and the Fujairah oil zone caught fire. Iran also targeted a UAE-affiliated tanker and a South Korean merchant ship; neither sank, but both had engine-room fires. U.S. forces used Apache and SH-60 aircraft to sink 6 Iranian speedboats and intercepted drones. This was the first direct clash since the 4/8 ceasefire, as both sides compete over the narrative of Hormuz and control. Oil prices are fluctuating, and OPEC+’s response is under observation.

Middle East tensions escalated, pushing up oil prices, and US stocks pulled back from their recent highs; Bitcoin broke above $80k yesterday, topping out at $80,776. Open interest for Deribit’s $80k call options rose notably, indicating capital betting on price gains within the month. Spot ETFs saw net inflows of $630 million this week. The market remains optimistic about progress on stablecoin yield-related terms, along with developments tied to the CLARITY Act.

Asian equity-index futures in Australia, South Korea, and Hong Kong are set to fall Tuesday, May 5, as surging oil prices weigh on US equities and bonds. Escalating tensions around the Strait of Hormuz have raised concerns about elevated energy costs. Japan's futures signaled a modest gain, while US

Broadridge has completed its acquisition of CQG, integrating futures and options execution, market connectivity, and analytics capabilities into its platform. The combined infrastructure allows institutional clients, brokers, and derivatives traders to access execution management, order routing, and