Commodities (Crude Oil & Copper) & Macro Outlook

Baker Hughes forecasts that global upstream capital expenditure prospects will continue to improve through 2027.

According to Yonhapinfomax, the US dollar index (DXY) rose to 102.376 on October 28 at 7:32 a.m. ET, up 0.077 points or 0.075% from the previous close. The dollar showed limited directional movement ahead of the Federal Reserve's policy rate decision. CME FedWatch data indicated a 90.6%

According to the World Bank, global oil supply is projected to decline 5.2% in 2026, marking the largest drop in over 40 years outside the 2020 global recession.

According to the World Bank, global commodity prices are expected to surge 23% in 2026 before declining 7% in 2027, driven by ongoing global shocks.

According to Jin10 Futures, as of 21:20 on October 28, key commodity options rallied sharply. Iron Ore 2612 call (700 strike) surged 50.0% to 4.5 yuan/ton; Shanghai Aluminum 2612 put (23,200 strike) rose 39.1% to 217.0 yuan/ton; Coking Coal 2612 call (1,500 strike) gained 36.97% to 22.6 yuan/ton; Fu

According to Odaily on October 28, NVIDIA announced plans to expand Oracle's cloud infrastructure (OCI) supercluster to multigigawatt scale based on the NVIDIA Vera Rubin NVL72 system. Meanwhile, U.S. stock index futures showed modest gains in premarket trading: Dow Jones futures up 0.04%, S&P 500 f

According to Jin10, UK Chancellor John Healey announced on Oct 28 that the government will maintain its fuel duty freeze and extend a 5 pence per liter temporary tax cut through July 2027. Healey stated the government would extend tax relief measures through winter and spring, citing elevated fuel p

Global central banks are navigating conflicting monetary policy pressures as oil prices surged above $100 per barrel on 28 October 2026, driven by escalating Middle East geopolitical tensions. The US Federal Reserve is widely anticipated to hold interest rates steady at 3.75%-4.00%, while the Bank o

According to Jin10 citing Hengyin Futures research, Zhengzhou sugar contracts stabilized at lower levels with modest gains on October 28, as Chinese sugarcane mills in Guangxi prepare to restart crushing operations. Near-term headwinds stem from currency depreciation: Brazil's real weakened

US Stock Market News shows S&P 500 futures edging higher on Oct. 28 (1:30 PM IST Oct. 28) as stronger durable goods data reinforces soft landing expectations. September durable goods orders rose 1.8%, while core orders excluding transportation gained 0.5%, pointing to resilient capital spending.

As of Beijing time 20:30 today, WTI crude oil futures rose 1.93% and U.S. natural gas futures climbed 2.20%.

Ethylene glycol futures posted strong gains today, rising 5.62% to close at 5,258 yuan per ton, outperforming all commodities in the broader market. The rally was driven by supply-side tightening, with an oil tanker incident near the Strait of Hormuz yesterday coupled with inventory levels hitting b

According to shipping trackers and data providers, Saudi Arabia maintained daily oil exports near wartime levels in October despite continued attacks on its energy infrastructure. Vortexa reported October exports averaging 6.5 million barrels per day, compared to 6.6 million daily in September.

According to UBS, on October 28, the bank raised its year-end Brent crude oil price target to $110 per barrel from $100, citing Middle East supply disruptions, declining global inventories, and record shipping costs. Global visible oil inventories have fallen more than 500 million barrels since

According to Jin10 Futures, ethylene glycol futures led China's petrochemical sector higher on October 28, with the main contract (2701) hitting the daily limit during intraday trading before reversing lower near the

According to Jin10 Futures, Malaysian palm oil futures fell 0.3% to 4,687 ringgit (US$1,149.90) per ton on October 28, marking the third consecutive trading day of losses. Despite the decline, export demand remained robust ahead of India's Diwali festival season. Ship survey firms estimated Malaysia

According to Guru Club, on October 28, European natural gas benchmark futures surged 3.7% and broke through €99/MWh for the first time since end-2022. Price gains were driven by concerns over potential escalation of Iran conflict tightening global gas supplies, combined with low European

According to Jin10 futures, copper concentrate treatment charges (TC) continued declining on October 28, with sulfuric acid prices falling significantly, compressing smelter margins domestically. Chinese refineries have increased maintenance shutdowns this month, with further production cuts

According to Equinor's Chief Financial Officer, the company's 2027 production will not reach the exceptional levels achieved in 2026 but is expected to exceed 2025 output.