Commodities (Crude Oil & Copper) & Macro Outlook

US President Donald Trump urged Canadian businesses trading with the US to immediately relocate their operations to America to avoid tariffs, according to statements posted on his Truth Social account on August 30 (local time). Trump stated that many of these companies had left the US years ago

China's commodity futures opened mixed this morning (August 31), with most contracts gaining. SC crude oil surged over 4%, while LPG, palladium, PVC, and coking coal each rose more than 3%. Lithium carbonate, glass, low-sulfur fuel oil, aluminum oxide, and soda ash all climbed over 2%. On the

According to Yonhap News, on Monday (August 31), South Korean and U.S. officials discussed measures to strengthen bilateral energy cooperation. Lee Ho-hyeon, South Korea's Vice Minister of Climate, Energy and Environment, met with U.S. official Cordell in Seoul to address energy supply chain

Bitcoin was trading at $77,960 on Aug. 31, retreating from the Aug. 28 high of $81,455. Fed Chair Kevin Warsh said in his first keynote speech since taking office, delivered at Jackson Hole, that year-over-year PCE inflation remained at 3.7%. The U.S. military struck two launch systems on Iran’s Larak Island, sending Brent crude up more than 2% to $90.32 and WTI to $85.41. U.S. Military Strikes Iran’s Larak Island, Brent Crude Breaks Above $90 per Barrel According to a Reuters report on Aug. 31,

According to Jinlian Creative, on August 31, China's benchmark crude oil averaged $86.36 per barrel, down 1.54%, implying a recommended retail price cut of 80 yuan per ton for domestic gasoline and diesel. The next pricing adjustment window is scheduled for September 11 at 24:00 (Beijing time),

According to Yonhap, on August 31, Federal Reserve Chair Kevin Warsh's hawkish remarks at the Jackson Hole Economic Symposium boosted expectations for future rate increases, sending the dollar-won exchange rate toward 1,380 won. Warsh stated inflation must move "clearly and at a sufficient pace" to

According to Jin10 Futures, on August 31, fuel oil prices edged higher amid stable crude oil cost support and strong supply-demand dynamics. Crude oil remained volatile but held at elevated levels, underpinning feedstock costs, while fuel oil supply-demand fundamentals strengthened. Sellers

According to AP and Axios, the U.S. military struck Iran's Islamic Revolutionary Guard Corps (IRGC) rocket launcher sites on Larac Island in the Strait of Hormuz on August 30 (local time), triggering a sharp rise in

According to Jin10 Futures, ethylene glycol futures declined consecutively in recent sessions but found stronger support at lower levels on August 31. Geopolitical tensions remained unresolved over the weekend, keeping crude oil elevated. This week, the market is expected to stabilize with the main

According to Jin10 Futures on August 31, U.S. commercial crude oil inventories stood at 428.9 million barrels as of August 21, remaining essentially flat compared to the prior week but up 2.5% year-over-year. Strategic petroleum reserves fell to 289.7 million barrels, declining 1.26% week-over-week

According to Jin10 Futures, styrene futures rallied on Aug 31 during Asian trading after U.S. military action against Iran's Larak Island triggered an oil rebound. Chinese producers including Anqing Petrochemical and Beijing Refinery face maintenance and restart schedules in early September,

US military forces struck Iranian rocket launchers in the Hormuz Strait on the 30th (local time), marking the first direct military action against Iran in about a month, while Fed Chair Kevin Warsh's hawkish Jackson Hole speech on the 28th sent the dollar surging and pushed markets to price in a 60%

According to Trump's statement on Truth Social on August 30, President Trump announced plans to use Venezuelan crude oil obtained through potential deals with Venezuela to replenish the U.S. Strategic Petroleum Reserve, which was depleted during the Biden administration. Trump stated his intention t

Iran fired missiles at US naval vessels in the Strait of Hormuz on the 31st (local time), one day after US forces struck Iranian military sites on Larak Island. Iran's state-run Press TV reported the missile launch targeting US vessels, though immediate confirmation of hits or damage was not

Federal Reserve Chair Warsh delivered a 28-minute speech at Jackson Hole in which he mentioned the word 'inflation' 25 times, triggering sharp moves across US stocks, bonds, currencies, and commodities over the weekend. Wall Street interpreted the remarks as a signal of imminent rate increases

Fed Chair Kevin Wash signaled heightened inflation vigilance at Jackson Hole, while China's CXMT reported H1 revenue surging 874% and global shipping rates hit year-highs for the fifth consecutive week. Wash stated additional Fed action may be needed if core inflation fails to decline toward the 2%

Federal Reserve Chair Waller delivered remarks emphasizing persistent inflation concerns, stating that inflation has not slowed meaningfully and expressing worry about stubborn price increases. Waller noted that while this summer's PCE and CPI figures were better than expected, they did not

According to Jin10, WTI crude oil jumped 2% to $84.29 per barrel on Monday (August 31), while Brent crude rose 1.7% to $89.43 per barrel. The moves followed U.S. military strikes on Iranian islands in the early morning hours and subsequent Iranian counter-attacks on U.S. military

According to President Trump's statement on August 30, the U.S. aims to refill its Strategic Petroleum Reserve (SPR) using Venezuelan crude oil. The SPR has fallen to 290 million barrels, its lowest level since 1982. According to the Wall Street Journal, the U.S. government is pursuing a 35% stake i

According to the UK Maritime Trade Operations office, a tanker came under attack from unidentified projectiles on August 30 while transiting the Strait of Hormuz, approximately 22 kilometers north of Oman's Salalah. No casualties or environmental damage have been reported. The authority advised