Commodities (Crude Oil & Copper) & Macro Outlook

According to sources close to the matter, Chevron is approaching completion of negotiations to integrate its joint venture operations in Venezuela into the country's new petroleum policy framework. The oil giant is also negotiating with Venezuelan authorities over contract blocks aimed at

On Aug 28, Iranian President Pezeshkian said Iran and Oman have reached new consensus on reopening the Strait of Hormuz's shipping lanes under a coordinated plan. Pezeshkian noted that Oman initially backed Iran but later adopted a more reserved stance before both sides realigned in recent

According to Iran's Revolutionary Guard Corps, on August 28, all vessels attempting to pass through the Strait of Hormuz without Iranian coordination will be blocked with full force and absolute authority. The statement reflects the IRGC's assertion of control over one of the world's most critical m

According to Jin10, the U.S. Department of Defense is negotiating with Venezuelan oil investor Alejandro Betancourt over significant petroleum reserves on August 29. The talks involve up to 17 oilfields across major Venezuelan oil regions, including the Orinoco heavy oil belt and Lake Maracaibo

According to MoneyDJ, U.S. rare earth companies received major government support in August. USA Rare Earth (USAR) completed a $1.55 billion capitalization for its Serra Verde Phase 1 special purpose vehicle on August 24, with the U.S. government contributing $750 million and establishing a

According to Chosun Biz, U.S. stock indices opened mixed on August 28 as investors awaited Federal Reserve Chair Kevin Wash's Jackson Hole speech. The Dow Jones Industrial Average rose 0.21% to 53,679.42, while the S&P 500 gained 0.10% to 7,738.47. The Nasdaq Composite declined 0.02% to 26,535.02. I

According to Jin10, on August 28, crude oil futures declined. WTI light sweet crude for October delivery fell 13 cents to $83.40 per barrel, down 0.16%, while Brent crude for October delivery dropped 39 cents to $89.31 per barrel, down 0.43%.

According to Iranian President Masoud Pezeshkian, Iran sold approximately 90 million barrels of oil during the execution period of a temporary agreement.

Ahead of Energy Transfer LP's Hugh Brinson pipeline commencing operations on September 1, U.S. natural gas futures declined. The pipeline in Texas is expected to transport approximately 2.2 billion cubic feet of natural gas daily from

According to the U.S. Commodity Futures Trading Commission (CFTC), Bitcoin net long positions reached 1,949 contracts in the week ending August 25.

According to the U.S. Commodity Futures Trading Commission, WTI crude oil speculators increased their net long positions by 804 contracts to 103,078 for the week ended August 25.

According to the CFTC, natural gas speculators on NYMEX and ICE reduced their net short positions by 27,238 contracts to 39,598 during the week ended Aug 25.

According to the U.S. Commodity Futures Trading Commission (CFTC), speculative net long positions in NYMEX WTI crude oil increased by 538 contracts to 104,573 contracts for the week of August 25, reaching a four-week

New York cocoa futures rallied 9.98% this week through August 28, closing at $6,636 per metric ton, according to ICE data. Gains accelerated on August 27-28 after trading near $5,800 during August 24-26. London cocoa futures rose 1.04% over the same

According to Bloomberg Commodity Index, CBOT grain futures rose sharply on Friday (August 28), with corn up 5.46% for the week to $5.3625 per bushel and soybeans up 3.89% to $12.8775 per bushel. Wheat futures surged 12.05% to $7.8350 per bushel, while soybean meal and soybean oil gained 7.06% and 2.

According to Kitco News, Copper Giant Resources Corp. (TSXV: CGNT; OTCQB: LBCMF) reported Thursday that directional hole MD-070 at its flagship Mocoa project in southern Colombia intercepted 771 meters grading 0.54%

WTI October crude futures closed at $83.40 per barrel today. Abu Dhabi Murban crude futures rose 1.09% to $94.04 per barrel, though the contract has declined 9.13% since the start of the week.

Shanghai Futures Exchange crude oil futures (DCE crude, 2610 contract) closed up 3.66% overnight on Aug 28, settling at 614 yuan per barrel. Shanghai gold futures fell 2.65% and Shanghai silver futures declined 3.62% during the same overnight

According to the Intercontinental Exchange (ICE), as of the week ending August 25, speculators reduced their net long positions in Brent crude oil by 28,299 contracts to 223,598 contracts.

According to the Intercontinental Exchange, natural gas speculators' net long positions decreased by 3,223 contracts to 89,299 contracts for the week ending August 25.