Commodities (Crude Oil & Copper) & Macro Outlook

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.

According to EU Commission President Ursula von der Leyen, the European Union has sanctioned vessels assisting Russia's shadow fleet for the first time. The move marks an escalation in the bloc's efforts to counter circumvention of existing sanctions targeting Russian oil

According to Guru Club, Thailand's Energy Regulatory Commission approved a reduction in ex-refinery prices for B0, B7, and B20 diesel of 2.40 Thai Baht per liter, effective from July 24 to August 15.

According to EU diplomats, the European Union representatives agreed on July 23 to extend the exemption for transporting Russian liquefied natural gas to third countries for an additional year, with automatic renewal

According to industry sources on July 23, LNG buyers from Qatar and the United Arab Emirates sought lower prices and stronger supply guarantees from suppliers, citing risks in the Strait of Hormuz. Long-term LNG contract prices in the region had typically been set at 12.6%-12.7% of Brent crude oil p

According to Jin10, the EU agreed to freeze its oil price cap on Russian oil for 12 months as part of the 21st round of sanctions, according to EU diplomats.

According to Bitget, WTI crude oil rose 3% to $89.52 per barrel on July 23, while Brent crude oil gained 2.5%.

According to Jin10 Futures, on July 23, China's Shanghai International Energy Exchange reported that warehouse receipts across energy and chemical futures remained unchanged from the previous trading day. Pulp futures warehouse receipts stood at 319,520 tons, while medium-sour crude oil futures rece

South Korea's government-led petrochemical industry restructuring has placed the sector's credit rating defense on trial, as the Ministry of Trade, Industry and Energy announced on the 22nd its approval of the 'Yeosu No. 1 Business Restructuring Project' involving Yeocheon NCC, Lotte Chemical,

Kyobo Securities assessed on the 23rd that global energy markets have become more vulnerable to oil price increases than in March during the Strait of Hormuz blockade, as buffer mechanisms have been exhausted. Senior researcher Wi Jae-hyeon stated the second shock from prolonged dual-strait

According to the UK Maritime Trade Operations (UKMTO), an oil tanker was attacked by an unidentified projectile approximately 70 nautical miles southwest of Saudi Arabia's Al-Shuqaiq today (July 23), resulting in a fire onboard that crew members are currently working to extinguish. The Yemen-based

An Hindustan Petroleum executive stated the company is preparing for oil purchases in September.

According to executives at Indian Oil Corporation, the company sourced 69% of its crude oil from the spot market during the June quarter, up significantly from 44% in the same period last year.

According to Hindustan Petroleum executives, Russian oil processing ratio rose to 38% during the June quarter.

According to the U.S. Energy Information Administration, crude inventories in the Midwest fell to the lowest level since December 2014 as of the week ending July 17. Strategic petroleum reserves dropped to the lowest since March 1983, while domestic crude output recorded its steepest weekly

According to Jin10, Denmark's Danske Bank highlighted rising market attention to 30-year U.S. Treasury yields, which have climbed to 5.15%, up 3 basis points and near 2-month highs. The increase reflects inflation pressures from escalating Middle East tensions, which pushed Brent crude oil close to

According to Helaba analysts, rising energy prices amid heightened tensions in the Arabian Gulf are unlikely to satisfy central bankers, with the European Central Bank set to announce its monetary policy decision later today, July 23. While there are currently no clear signals of an imminent ECB