Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 data, as of the week ending August 28, U.S. crude oil exports reached their highest level since June 19, 2026, while domestic crude oil production hit its highest mark since November 7, 2025. The country's EIA strategic petroleum reserve inventory fell to its lowest level since N

U.S. crude oil imports fell to negative 595,000 barrels per day for the week ended August 28, according to the Energy Information Administration, down from 275,000 barrels per day in the previous week.

According to the U.S. Energy Information Administration (EIA), crude oil implied demand rose to 21.268 million barrels per day in the week ended August 28, up from 19.987 million barrels per day in the prior week, an increase of approximately 1.281 million barrels per day.

According to the U.S. Energy Information Administration (EIA), American crude oil production increased to 103,000 barrels per day for the week ended August 28, up from negative 2,000 barrels per day in the prior week.

According to the U.S. Energy Information Administration (EIA), gasoline production for the week ending August 28 declined to 9.8573 million barrels per day from 9.9323 million barrels per day in the prior week, down 75,000 barrels

According to EIA data released for the week ending August 28, U.S. distillate fuel oil production declined to 5.1253 million barrels per day, down from 5.6293 million barrels per day in the previous week.

According to the U.S. Energy Information Administration (EIA), crude oil imports fell by 79,000 barrels for the week ending August 28, compared to a decline of 161,000 barrels the previous week.

U.S. crude oil inventories declined 4.45 million barrels in the week ending August 28, according to EIA data released on September 2. The prior week saw inventories rise by 95,000 barrels.

According to the U.S. Energy Information Administration (EIA), strategic petroleum reserves decreased by 3.122 million barrels for the week ending August 28, compared to a decline of 3.7 million barrels in the previous week.

According to the Energy Information Administration (EIA), U.S. heating oil inventories declined by 33,000 barrels for the week ending August 28, compared with a build of 27,000 barrels in the prior week.

The U.S. Energy Information Administration (EIA) reported that refined oil inventories increased by 796,000 barrels in the week ended August 28, reversing the prior week's decline of 2.228 million barrels.

On Sept. 2, European natural gas futures surged to around €73.85 per megawatt-hour, up roughly 25% over the past month to their highest level in more than three years, driven by renewed U.S.-Iran military tensions threatening LNG supplies through the Strait of Hormuz. Meanwhile, U.S. natural gas

According to the U.S. Energy Information Administration (EIA), the refinery equipment utilization rate for the week ended August 28 came in at 98%, beating the forecast of 97.1% and up from 97.4% in the prior week.

According to the U.S. Energy Information Administration, American refining crude oil inventories rose to 7.96 million barrels in the week ended Aug. 28, beating market expectations of a 12.75 million barrel decline and marking a smaller decrease compared to the prior week's 22.28 million barrel

According to the U.S. Energy Information Administration, Cushing crude oil inventories declined by 80,000 barrels during the week ended August 28, compared to an increase of 1.176 million barrels in the previous week.

According to the U.S. Energy Information Administration, crude oil inventories decreased by 4.45 million barrels during the week of August 28, compared to a prior weekly increase of 0.95 million barrels.

According to the U.S. Energy Information Administration (EIA), Cushing region crude oil inventories declined by 800,000 barrels in the week ended August 28, compared to a build of 1.176 million barrels in the prior week.

According to the U.S. Energy Information Administration (EIA), American crude oil inventory fell by 4.45 million barrels last week, compared to analyst expectations of a 368,000 barrel decline. The previous week had seen an increase of 9.5 million barrels.

According to the U.S. Energy Information Administration (EIA), gasoline inventories declined by 1.173 million barrels in the week ending August 28, compared with a decline of 2.536 million barrels in the previous week.

According to the U.S. Energy Information Administration (EIA), refinery equipment utilization rose to 0.6% for the week ending August 28, compared with 0.2% in the prior week.