Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, BCA Research analyst Felix Vezina-Poirier said on July 14 that surging oil prices could encourage the United States and Iran to cool their Middle East conflict. Both sides are willing to demonstrate strength but do not want to see consequences of larger-scale escalation, the anal

According to Bloomberg, Asian oil refiners have recently resumed negotiations for U.S. crude spot shipments as escalating U.S.-Iran tensions disrupt vessel traffic through the Strait of Hormuz. At least three industry participants involved in U.S. crude sales and Asian refining procurement

US President Donald Trump announced on the 13th (local time) that he would impose a 20% fee on all cargo passing through the Strait of Hormuz to recover costs of providing military protection to vessels using the waterway. Industry experts and shipping operators told the New York Times that the

According to Jin10, Huashun Petroleum announced on July 14 that it expects net profit attributable to shareholders for the first half of 2026 to reach 68-88 million yuan, representing a year-over-year increase of 384.02%-526.38%. The company attributed the profit surge to geopolitical tensions that

According to Treasury data reported by Agence France-Presse, U.S. tariff refunds totaled $81 billion in the fiscal year ending July 2026, up from $5 billion the previous year. The surge followed the Supreme Court's 6-3 decision in February that found Trump exceeded his authority by using the

According to Iran's SNN news agency, an Iranian military spokesman stated today that the Strait of Hormuz will not be opened due to U.S. aggression and war.

According to the London Metal Exchange, copper inventory fell 1,675 tonnes, tin declined 115 tonnes, nickel remained unchanged, zinc dropped 825 tonnes, lead increased 80,700 tonnes, and aluminum fell 1,625 tonnes on

According to Xinhua, the 'Mombasa' and 'Bahia' tankers were struck by projectiles today (July 14) while transiting the Strait of Hormuz, the Abu Dhabi National Oil Company confirmed.

According to Francesco Pesole, an analyst at ING, on July 14, narrowing short-term rate differentials between the US and eurozone are providing support for EUR/USD. With market expectations for European Central Bank rate hikes cooling, eurozone short-term rates have room to recover, bolstering euro

According to the UK Maritime Trade Operations (UKMTO), a tanker was struck by a missile near Oman on July 14. The incident occurred approximately 13 nautical miles southeast of Muscat along the southern shipping route. Authorities are investigating the incident.

According to Yonhapinfomax, on July 14, the dollar-yen exchange rate fell 0.05% to 162.28 yen as tensions between the United States and Iran escalated. U.S. Central Command announced it completed airstrikes on Iranian military targets on July 13, while President Donald Trump said the U.S. would

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.