Commodities (Crude Oil & Copper) & Macro Outlook

According to the Financial Times, Dubai plans to build a new port to bypass the Strait of Hormuz on July 13.

According to UAnalyze, over the weekend, Iran announced the closure of the Strait of Hormuz following renewed U.S.–Iran attacks, breaking a temporary agreement signed last month. The move sent crude oil futures surging over 3%, pressuring market sentiment. U.S. stock index futures declined

U.S. natural gas futures fell over 3.00% intraday on July 13, trading at $2.851 per million British thermal units (MMBtu).

According to Bloomberg, BlackRock has agreed to acquire a stake in the Williams Power joint venture for $5.34 billion.

According to Kazakhstan's Oil Ministry, oil production fell 8.4% in the first half of 2026.

According to official files, Qatar has set its August marine crude oil official selling price (OSP) at a $5 per barrel discount to the Oman/Dubai benchmark, while its onshore crude OSP is set at a $4.50 per barrel discount.

Deutsche Bank paid a A$2 million infringement penalty after Australia's corporate regulator alleged the bank systematically misreported more than 260,000 over-the-counter derivatives transactions between 21 October 2024 and 15 August 2025. The Australian Securities and Investments Commission said th

According to ASIC, Deutsche Bank paid A$2 million on July 13 after failing to accurately report the "direction" field for over 264,000 over-the-counter derivatives transactions between October 21, 2024, and August 15, 2025. The errors involved foreign exchange and commodity derivatives across 208

According to OPEC's monthly report, the UAE notified OPEC in June that its crude oil production surged 80%, reaching 3.8 million barrels per day compared to 2.09 million in May. The UAE attributed the increase to finding a workaround to address the Iran conflict and gaining freedom to raise output f

According to OPEC's monthly report compiled by Jin10, the organization's oil production reached 22.002 million barrels per day in June, up 3.051 million barrels from May's revised figure of 18.952 million barrels per day.

According to OPEC's monthly report, the organization maintained its economic growth forecast for the eurozone at 1% for 2026 and 1.2% for 2027.

According to OPEC's latest monthly report released in July, the organization maintained its 2026 U.S. economic growth forecast at 2.2% and kept its 2027 projection at 2%.

According to OPEC's monthly report, the organization revised downward its 2026 crude oil demand forecast for OPEC by 200,000 barrels per day to 42.3 million barrels per day. OPEC maintained its 2027 demand forecast unchanged at 43.6 million barrels per day.

According to OPEC's latest monthly report, global crude oil demand is projected to reach 105.94 million barrels per day in 2026. The forecast for 2027 is 107.88 million barrels per day.

According to OPEC's monthly report, OECD oil inventories declined by 21.8 million barrels in May to 2.77 billion barrels.

According to OPEC's monthly report, crude oil production from OPEC+ (including former member United Arab Emirates) averaged 36.28 million barrels per day in June 2026, up approximately 3 million barrels daily from May. The increase was primarily driven by production gains from Gulf oil-producing

According to OPEC's monthly report, the organization cut its 2026 global oil demand growth forecast to 780,000 barrels per day, down from a previous prediction of 970,000 bpd. The cartel simultaneously raised its 2027 forecast to 1.94 million bpd, up from an earlier estimate of 1.73 million bpd.

According to Barclays analysts on July 13, rising oil prices stemming from U.S. strikes on Iranian targets and Iranian attacks on shipping in the Strait of Hormuz over the weekend could prompt Bank of England monetary policy committee members to signal inclination toward interest rate increases in c

According to India's Ministry of Trade, the country's imports of crude oil and petroleum products totaled $19.33 billion in June.

According to Iranian state television, on July 13, Iran stated the Strait of Hormuz remained closed due to alleged U.S. violations of the Islamic Baku memorandum. Iran said the strait's closure aims to establish Iranian sovereignty over the waterway in