Commodities (Crude Oil & Copper) & Macro Outlook

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

According to CME data, on July 22, gold, WTI crude oil, and natural gas all saw increases in both trading volume and open interest. Gold trading volume reached 182,264 contracts with 387,520 open contracts; WTI crude oil volume hit 1,163,459 contracts with 1,880,106 open contracts; natural gas volum

According to South Korea's Ministry of Economy and Finance, on July 23, the country achieved 3.7% year-over-year real GDP growth in the second quarter, making the achievement of a full-year 3% growth target increasingly likely. The ministry noted that Q2 real gross domestic income (GDI)

According to South Korea's Ministry of Industry, Trade and Energy, DRAM (DDR5 16Gb) prices surged from $5.1 to over $40 per unit from June 2025 to June 2026, while NAND (128Gb) prices jumped from $3.1 to $28.8, driven by intense AI data center competition among global tech giants. South Korea's

Hindustan Petroleum Corporation executives confirmed August oil supplies have been secured, according to the company statement. The announcement comes as the state-owned Indian energy major ensures stable fuel availability for the upcoming

According to Jin10 Futures, on July 23, CBOT soybean futures rose 1.3% on concerns over potential heat waves in the U.S. Midwest and rising crude oil prices. Domestic soybean meal markets rallied in tandem with imported soybean costs, though ample domestic stocks and limited downstream demand

According to Vietnam National Oil and Gas Group (PVN), the Dung Quat Refinery has secured crude oil supply to sustain operations through the end of September.

According to Jin10, Brazil's President Luiz Inácio Lula announced on July 22 a 18.5 billion reais (approximately $3.7 billion) credit support plan to mitigate the impact of U.S. tariffs and Middle East geopolitical tensions on Brazilian exports. The plan targets steel, aluminum, automotive,

According to Jin10 Futures, rapeseed futures in Zhengzhou closed up 2.42% today (July 23), hitting their highest levels in three years amid strengthening crude oil prices. Rapeseed meal spot prices rose modestly, though soybean meal alternatives continued to limit demand, with current buying