Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, India's Oil and Natural Gas Corporation (ONGC) plans to invest 70 billion rupees ($736 million) to build underground crude oil storage facilities in southern India on August 31. The new strategic reserve will hold approximately 13 million barrels, enhancing the country's buffer a

According to Wood Mackenzie data, funding for natural gas asset acquisitions exceeded $320 billion in the first half of 2026, marking the highest level in over a decade. The surge, compounded by Middle East tensions, has also driven valuations higher for gas assets in the Americas and other

According to sources cited by Bloomberg, refiners from Japan and South Korea have increased purchases of Argentine Medanito crude in recent weeks, with at least one cargo completed for shipment in early August. The move reflects efforts by refiners to diversify supply sources and strengthen energy s

According to Germany's Federal Statistical Office (FSO), the country's August consumer price index rose 2.9% year-over-year on August 31, matching market expectations. The month-over-month increase was 0.1 percentage point from July's 2.8%. Core inflation, excluding volatile food and energy,

According to Guru Club, China's coking coal futures main contract fell over 2% on August 31, trading at 1,662 yuan per ton after briefly climbing over 2% earlier in the session.

According to Yonhapinfomax, the U.S. dollar weakened on August 31 morning (US Eastern time), with the dollar index (DXY) tracking the greenback against six major currencies falling to 99.510, down 0.145 points (0.146%) from the previous close of 99.655. The euro strengthened after German regional co

According to CNYES, on August 31, the U.S. and Iran exchanged military strikes for the second time in a month, pushing crude oil prices sharply higher. West Texas Intermediate crude surged 2.53% to $85.51 per barrel, while Brent crude climbed 2.21% to $88.02, intensifying concerns over inflation and

According to Brazil's Vice President Gabriel Alckmin, Congress will vote this week on a measure to maintain federal import tariff exemptions for low-value commodities.

Tomorrow, Interior Secretary Burgum will discuss gasoline prices at the White House. The Trump administration aims to support refineries rather than allow them to go bankrupt, Burgum stated.

According to Odaily, HyperLend co-founder ness.hl recently announced on X that the lending protocol will not exit the market and plans to support equities and commodities as additional collateral types beyond crypto assets. HyperLend has generated over $20 billion in loan volume since its

According to Reuters, the U.S. may approve an expansion of biofuel exemptions as early as next Monday.

According to major Wall Street institutions, commodity valuations relative to U.S. equities have fallen to their lowest level in over 50 years, with the S&P GSCI to S&P 500 ratio at its weakest since the 1970s. Jefferies global metals and mining research head Christopher LaFemina noted that

According to Reuters, Trump is scheduled to meet with oil company executives on Tuesday.

According to a Reuters survey, the average price of Brent crude oil for 2026 is projected at $85.08 per barrel, a decrease from the previous forecast of $85.22 per barrel made in July.

According to Reuters survey conducted on August 31, U.S. crude oil average price is now projected at $80.20 per barrel for 2026, up from the previous forecast of $80.14 per barrel issued in July.

According to the Russian Central Bank's latest high-risk scenario forecast, Russia's GDP will contract 3%-4% and inflation will rise to 11%-13% in 2027. The forecast also predicts average crude oil prices will fall to $35 per barrel during the same

According to BlockBeats, on August 31, Saudi Arabia and the United Arab Emirates are accelerating investments in ports, pipelines, and rail projects to create alternative energy routes as Iran conflict continues to disrupt Strait of Hormuz shipping. The strait previously carried one-fifth of