Commodities (Crude Oil & Copper) & Macro Outlook

According to Bank of America fund managers survey, investors lowered their 2026 year-end oil price forecast to $71 per barrel from $86 projected in June, reflecting revised expectations for global energy

Pan Guoguang, Head of Investment Strategy and Research at Fubon Bank (Hong Kong), stated that semiconductor stocks face selling pressure as US technology giants increasingly invest in their own semiconductor operations and require chip companies to use their services. Pan projects Hong Kong stocks c

According to Jin10 Futures citing Shanghai Futures Exchange data, as of July 14, 2026, petroleum asphalt warehouse inventories increased 1,980 tons to 11,290 tons, while asphalt factory stocks rose 2,000 tons to 19,110 tons day-on-day. Pulp futures warehouse inventories also gained 6,635 tons to 309

WTI crude oil rose 3% intraday to $80.53 per barrel on July 14.

Switzerland's producer and import price index declined 0.3% month-on-month in June, compared with a 0.4% decrease in the previous month.

According to Jin10 data, BP said on July 14 that it expects its second-quarter oil trading business to continue achieving growth, but upstream oil and gas output will be lower than the first quarter. The company forecasts Q2 upstream daily production will be between 2.17 and 2.22 million barrels

According to Jin10 data compiled on July 14, Iran lifted restrictions on petrochemical product exports as geopolitical tensions escalated in the Strait of Hormuz. Separately, the Trump administration announced it will impose a 20% fee on cargo transiting through the Strait of Hormuz and begins a

HMM and other Korean shipping stocks rose on the 14th after the United States decided to control the Strait of Hormuz. HMM gained 2.30% to 20,000 won as of 2:25 PM, while STX Green Logistics hit the daily trading limit and Heung-A Shipping climbed 2.92%. The rally followed President Donald Trump's a

BP reported second-quarter 2026 output of 750,000-770,000 barrels of oil equivalent per day from natural gas and low-carbon energy combined.

BP expects its oil and gas production and operating scale to reach 1.42 to 1.45 million barrels of oil equivalent per day in the second quarter of 2026.

According to Korea Exchange, HMM rose 2.3% to 20,000 won on July 14 as U.S.-Iran tensions over the Strait of Hormuz boosted South Korean shipping stocks. STX Green Logistics hit its daily limit up, while Heung-A Shipping gained 2.92%. The gains reflect expectations of higher shipping rates

Germany's wholesale price index declined 0.7% month-on-month in June 2026, compared to a 0.6% decline in the previous month, according to official data.

Germany's wholesale price index fell to 4.9% year-on-year in June, down from 5.9% in the previous month, according to official data.

According to Guru Club, Iran's Oil Minister stated today (July 14) that the country's crude oil exports continue to proceed normally, despite the United States canceling exemptions for Iranian oil imports.

Gate News, June 2026: According to an official announcement from Gate, the platform continued to expand its product offerings throughout June across TradFi, wealth management, derivative products, the on-chain ecosystem, and payment scenarios. The prediction market’s monthly trading volume reached $280 million, the Gate ETF’s monthly trading volume was close to $20 billion, CFD Copy Trading volume increased rapidly, and institutional spot trading volume grew month over month by 49.39%. In stock

According to Citi, the bank maintains its forecast for Henry Hub natural gas average prices at $2.8 per million BTU for 2027 and $3.2 per million BTU for the first quarter of 2027.

According to Jin10, U.S.-Iran tensions and the risk of Hormuz Strait closure on July 14, 2026 have intensified oil supply concerns for Chinese refiners. State-owned refineries face disruptions to Middle Eastern crude supplies, while regional refineries confront dual risks from Venezuelan crude

According to Guru Club, China's fertilizer exports in June dropped 48% year-over-year to 2.23 million tons, marking the lowest level since April 2024, as the country tightened export controls to prioritize domestic

According to Jin10 Futures, on July 14, rapeseed meal futures in Zhengzhou opened lower but rallied higher, with the benchmark contract closing up 1.47%. The rise was supported by a sharp climb in international crude oil futures. In the spot market, rapeseed meal trading slowed due to heavy

China's June exports surged 27% year-over-year, significantly exceeding expectations and marking the highest growth in over four years, amid a wave of artificial intelligence-related investment spending. First-half exports rose 17.6% compared to the same period last year.