Commodities (Crude Oil & Copper) & Macro Outlook

Market sources reported that South Korean energy company S-OIL canceled a diesel tender for approximately 300,000 barrels this week.

According to Jin10's analysis, President Trump's public statements about the Iran conflict from March through July have been contradicted by on-ground realities. Trump declared Iran's military "completely destroyed" and claimed the war would end within four to six weeks; however, the conflict has

According to traders citing discussions on July 23, at least two Asian crude buyers are negotiating with Saudi Aramco to reroute oil shipments away from the Red Sea following Houthi attacks on tankers. Refineries are exploring alternatives to using the Strait of Mandab, including acquiring crude fro

According to Guru Club, on July 23, Iran-backed Houthi forces claimed to have attacked two Saudi Arabian oil tankers in the Red Sea, escalating Middle East tensions and threatening regional supply disruptions. Brent crude futures approached the $100 per barrel mark amid the incident. The assault

According to Bitget data, WTI crude oil futures hit $90 per barrel on July 23, marking the first time since June 11. The contract rose 4.07% intraday.

Gate News: According to the latest Gate TradFi data, XTIUSD (WTI Crude USOIL) has surged by 4% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

According to Jin10, China Man Petroleum's stock surged with cumulative gains exceeding 20% on July 22-23, driven by operational impacts from Middle East geopolitical conflict. The company announced that 9 of its 14 drilling rig crews deployed in Iraq remain suspended due to the regional tensions,

International oil prices surged after Houthi rebels attacked a tanker in the Red Sea near Saudi Arabia, with Brent crude September futures rising 2% to $95.9 per barrel at 2pm local time on the London ICE Futures Exchange. The Iran-aligned Yemeni group claimed responsibility and had declared a

According to sources, Kazakhstan's Tengiz oil field production fell to 406,000 barrels per day on Wednesday, sharply down from the July monthly average of 925,000 barrels per day.

According to China National Petroleum Corporation, the company's combined oil and gas production reached 263.48 million barrels of oil equivalent in the first half of 2026, up 0.3% year-over-year. However, domestic refined oil sales fell to 79.00 million tons, down 9.2% compared to the same period l

According to sources, Kazakhstan's oil and gas condensate production dropped 21% to 1.63 million barrels per day on Wednesday, falling below the July average of 2.07 million barrels per day.

According to CoinDesk, WTI crude oil hit $88.60 per barrel on July 22, marking the highest level since June 11, as geopolitical tensions between the U.S. and Iran intensify. The rally has revived concerns about inflation resurgence, potentially limiting the Federal Reserve's room for interest rate c

According to Jin10 Data, on July 23, investors increased bets on UK rate hikes in November and December amid rising oil prices and inflation concerns. Markets are now fully pricing in a 25 basis point hike in November, with a 93% probability of a rate increase in December.

Singapore's middle distillate oil inventories fell by 593,000 barrels to 8.715 million barrels, a 3-week low, for the week ended July 22, according to data released by Singapore's Enterprise Singapore (ESG) on July 23.

According to Singapore's Economic Development Board, fuel oil inventory rose 345,000 barrels to 19.46 million barrels for the week ending July 22, marking a three-week high.

South Korean petrochemical companies failed to recover credit ratings in the first half of this year, with zero upgrades among 14 major firms reviewed by the country's three credit rating agencies. LG Chem was downgraded

According to credit rating agencies, in H1 2026 regular assessments, none of the 14 major South Korean petrochemical companies received credit rating upgrades, marking a comprehensive failure in credit recovery. LG Chem's rating fell from AA+ to AA, while Yeochen NCC dropped from A- to BBB+, and

According to Jin10, World Metals and Alloys Limited (WMA FZC) announced on July 22 that it is suspending production at its Emang and Boskop mines effective immediately, citing deteriorating market conditions. The company is also reducing exports by more than 60% from previous levels. The measures ar

According to Goldman Sachs' latest global outlook, global stock markets fell approximately 2% last week, with technology stocks sliding 5% amid momentum unwinding and profit-taking. Japan, South Korea, and Taiwan experienced steeper declines of 3% to 9%. Goldman's strategy team warned that the

According to Jin10, EU Commission President Ursula von der Leyen announced on July 23 that 32 Russian banks, along with crypto companies and oil trading platforms, have been added to its sanctions list.