Commodities (Crude Oil & Copper) & Macro Outlook

According to Trump's statement to Israel's Channel 12 on April 30, the U.S. President said he will not lift the naval blockade on Iran until a nuclear agreement is reached. Trump described the naval blockade as more effective than bombing, stating that Iran's oil reserves and pipelines will soon be

According to S&P Global, oil inventories at the United Arab Emirates' Fujairah storage hub collapsed to 6.982 million barrels on April 29, marking a 6.3% week-on-week decline and the fourth consecutive record low since the Iran-Israel conflict escalated. The storage center has plummeted

On 4/29, oil prices continued to rise, with Brent breaking through $114 and WTI reaching $103.18. The main reason is that the Trump administration is seen as planning to expand the blockade of Iranian ports and to crack down on exports; since 2/28, WTI has risen by more than 49%. If a port blockade were to become reality, global supply is unlikely to improve in the short term; next, the outlook depends on U.S. announcements, Iran’s response, and whether Brent will break above 120 again.

According to The Block, stablecoin management platform Stable Sea has partnered with asset manager WisdomTree to integrate the tokenized money market fund WTGXX directly into its enterprise payment and treasury management platform. Stable Sea users can now convert idle stablecoin balances into WTGXX

According to OAPEC's quarterly report, Arab liquefied natural gas exports fell by nearly 24% to 22 million tonnes in the first quarter of 2026 from 29 million tonnes in the same period of 2025, following Iranian missile strikes on Qatar's Ras Laffan facilities in March and the closure of the

The United Arab Emirates announced its departure from the Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ on April 29, 2026, effective May 1, 2026, citing shifting national energy priorities but prompting analysts to also point to regional frustration over responses to Iranian att

Wizz Air CEO József Váradi warned on 29 April 2026 that airlines across Europe could face shutdown by September if jet fuel prices remain high, according to statements reported by The Telegraph. Váradi cautioned that a slowdown in summer bookings combined with the ongoing jet fuel crisis could

Liquid announced it has raised $18 million in Series Seed funding to expand its multi-asset trading platform that provides continuous access to cryptocurrencies, equities, commodities, foreign exchange, and pre-IPO assets. The round was co-led by Neo and Left Lane Capital, with participation from se

According to compiled fund flow data, U.S.-listed spot Bitcoin ETFs posted net outflows of $89.7 million in the latest trading session, with BlackRock's iShares Bitcoin Trust recording the largest withdrawal at $112.2 million. Smaller outflows were also recorded in Fidelity's FBTC and Bitwise's BITB

According to U.S. Defense Secretary Pete Hegseth, Iran is pursuing nuclear weapons using a "North Korea strategy," as President Trump posted pressure messages on his social media early on April 29 (U.S. Eastern Time). Trump, who posted a photo of himself armed with sunglasses and a rifle alongside t

According to ChainCatcher, Brent oil futures surged in the pre-market session over the past hour, reaching a high of $108. On Hyperliquid, BRENTOIL recorded a 24-hour gain of 3%, recovering most of its monthly decline. A short whale on the platform was forced liquidated multiple times during the ral

Gate News message, April 29 — Thomas Hulick, CEO of Strategy Asset Managers, said energy prices have become the key variable in the Federal Reserve's policy trajectory as markets widely expect Fed Chair Jerome Powell and the Federal Open Market Committee to hold interest rates steady. Futures market

Polymarket, one of the largest prediction markets in operation, has reportedly approached the U.S. Commodity Futures Trading Commission (CFTC) to lift a four-year ban on American users of its main on-chain exchange, according to Bloomberg. With four of five CFTC commissioner seats vacant, Chair Mich

The World Bank's April Commodity Markets Outlook, released on April 28, forecasts that global energy prices will rise 24% in 2026, even if supply disruptions caused by Middle East conflicts end by May, according to CCTV International News. The report projects Brent crude oil futures will

Gate News message, April 29 — WTI crude oil (U.S. benchmark crude futures) and Brent crude (global benchmark crude futures) declined sharply today, completely erasing gains from the announcement of potential extended sanctions on Iran. WTI fell to $100.71 per

Gate News message, April 29 — Gold prices fell to $4,582.73 per ounce, down 0.31% today, while silver declined to $72.969 per ounce, down 0.15%. The Bitcoin volatility index (BVIX) rose to 42.00, up 0.53% today. The Ethereum volatility index (EVIX) reached 58.82, down 2.94%. In foreign exchange

Bitcoin was temporarily trading around $76,500 on April 29, extending its downward trend. The U.S. dollar against the Japanese yen fell nearly 0.5% to 158.95. According to the Bank of Japan’s monetary policy decision published on April 28, the committee voted 6 to 3 to keep the benchmark interest rate unchanged at 0.75%. The three members who voted in favor of an immediate rate hike on that day prompted traders to raise the probability pricing for a rate hike on June 16 to 74%.

Gate News message, April 29 — Taiwan and South Korea's semiconductor industries, which account for 60% of global chip manufacturing and 70% of the memory chip market respectively, face a critical energy vulnerability as oil and gas shipments through the Strait of Hormuz remain disrupted since the st