Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 reporting remarks from Eni CEO Claudio Descalzi in an interview published by 24 Hours Sun on July 11, if Middle East conflict persists, global oil markets may break the current range of approximately $80 to $100 per barrel by the first quarter of 2027, pushing up inflation and

According to Russian Deputy Prime Minister, the country recently imposed a ban on diesel exports to meet domestic market demand. The official stated that Russia will accelerate efforts to repair damaged refineries to support domestic fuel

According to UBS' derivatives strategy team, the bank's Turbu-lens market fragility indicator reached 0.9 on July 11, marking the highest reading since mid-September 2025. The reading suggests the market is in an "extremely fragile" state, with the potential to touch the maximum level of +1 if

According to Kpler data, passage through the Hormuz Strait fell to 22 vessels on Thursday from 30 the previous day, following renewed U.S.-Iran clashes that erupted Tuesday when Iran targeted ships including a Qatar LNG carrier. Since the Tuesday escalation, only two LNG vessels have entered the

US military strikes on Iran triggered a sharp surge in international oil prices and US Treasury yields, according to analysis from iM Securities released on the 11th. The attacks reversed the downward trend in crude oil markets, with West Texas Intermediate (WTI) prices jumping from the $68 per

According to iM Securities, U.S. military strikes on Iran on July 11 triggered a sharp surge in crude oil prices and elevated U.S. Treasury bond yields, raising inflation concerns. West Texas Intermediate (WTI) crude jumped to $74 per barrel from lows near $68, with prices exceeding $76 on July 8. U

According to Jin10, China's import crude oil shipping market showed signs of recovery on July 9, as VLCC tanker rates continued to rebound globally. The China Import Freight Index (CTFI) reported 4,332.25 points on July 9, up 8.3% from July 2, according to the Shanghai Shipping

According to CCTV News, Iran's Foreign Minister Abbas Araghchi condemned the U.S. Treasury Secretary's revocation of sanction exemptions on Iranian oil sales on July 11, stating the action violated Article 9 of the Iran-U.S. Memorandum of Understanding. Araghchi said the breach is part of a series o

According to data from the China Futures Association, China's futures market cumulative trading volume reached 5.105 billion contracts in the first half of 2026, while cumulative trading value hit 482.7 trillion yuan, rising 25.23% and 42.08% year-on-year respectively. The market continued to

Janggle researcher Kim Jun-seong identified the Federal Reserve's rate path and Middle East geopolitical risks as key variables affecting cryptocurrency markets this week. In a recent weekly research report, Janggle diagnosed that risk appetite in crypto markets remained constrained amid an

According to Jangul research firm, the U.S. Federal Reserve's interest rate path and Middle East geopolitical risks emerged as key variables for crypto markets this week. The Fed held its benchmark rate at 3.50%-3.75% in June's FOMC meeting, while some board members reviewed the need for

According to Guru Club, WTI crude oil futures settled at $71.41 per barrel on July 11, down $0.67 or 0.93%. Brent crude oil futures settled at $76.01 per barrel, declining $0.29 or 0.38%.

According to Reuters, Ukrainian drone attacks have damaged Russian oil refining facilities in recent weeks, creating severe domestic fuel shortages. Russia, traditionally a major exporter of gasoline and diesel, has begun importing fuel to meet domestic demand. The country has already imported at

According to Iran's semi-official YJC news agency, a fire at the Oxin Palayesh refinery in Lorestan Province was brought under control on Friday, July 4. The facility's safety manager told YJC that the blaze was contained to an area where abandoned oil drums were stored and did not spread to the ref

US President Donald Trump declared the ceasefire with Iran ended on July 10, yet international oil prices closed lower. On the New York Mercantile Exchange, West Texas Intermediate (WTI) crude for August delivery fell $0.67 (0.93%) to $71.41 per barrel, while Brent crude for September delivery

S-Oil surged 19.87% this week (6-10) as Middle East tensions escalated, according to Korea Exchange data released on the 11th. The stock rally occurred while the KOSPI index fell over 7%, positioning S-Oil as a defensive play amid market volatility. The price surge reflects investor expectations

According to News1, this week (July 6-10), S-Oil surged 19.87% while the KOSPI fell over 7%, amid escalating tensions between the U.S. and Iran over control of the Strait of Hormuz. The stock rally reflected expectations that refining margins will remain strong in the second half of 2026. WTI

According to Kitco, spot gold and silver prices declined on Friday morning as traders balanced weak June employment data against the Federal Reserve's recent minutes, steady Treasury yields, and renewed uncertainty in the Strait of Hormuz. Spot gold was trading near $4,104.30, down 0.44%, while spot

As of Friday, July 10, spot gold fell 0.23% to $4,114.36 per ounce, declining 1.51% for the week, while spot silver dropped 0.21% to $59.83 per ounce and fell 4.13% weekly. COMEX copper futures rose 1.90% to $6.2865 per pound for the week.

FTSE Russell research identifies artificial intelligence infrastructure and the global energy transition as creating larger commodity investment opportunities than gold, according to Indrani De, Head of Global Investment Research at the firm. While gold continues serving as a portfolio anchor amid g