Commodities (Crude Oil & Copper) & Macro Outlook

British airline Jet2 reported a $536 million balance sheet gain on July 8 after fuel derivatives locked at lower rates surged in value as Middle East conflict drove jet fuel prices higher. The windfall offset a 67% plunge in annual cash inflows to approximately $103 million, triggered by travelers d

WTI August crude oil futures fell 1.44 dollars to 72.08 dollars per barrel, down 1.96% today. Abu Dhabi Murban crude oil futures declined 3.13% to 71.27 dollars per barrel. NYMEX August natural gas futures settled at 3.0120 dollars per million British thermal units, while August gasoline futures

According to Jin10 Data, at 2:30 AM on July 10, Shanghai Gold futures (main contract) closed up 1.31%, Shanghai Silver futures (main contract) rose 3.22%, and SC crude oil futures (main contract) declined 3.22%.

Following renewed US-Iran tensions announced at the NATO Leaders Summit in Ankara, Brent crude oil surged over 10%, prompting a Bitcoin selloff from its early-week high of $64,000 to around $62,900. According to CryptoQuant analyst Darkfost, Bitcoin faces further downward pressure as oil prices

According to Brazil's trade executive committee (Gecex), the government maintained a 12% crude oil export tax for an additional 60 days on Thursday (July 9). The committee stated it will reassess the measure within 30 days. The tax was initially introduced in March in response to rising crude

WTI crude oil fell 4.00% intraday today, trading at $71.54 per barrel. Brent crude declined 3.75% to touch $76 per barrel during the session.

US stocks opened higher on July 9 (local time), with the three major indices advancing on strong semiconductor stock performance at 9:51 AM. The Dow Jones Industrial Average rose 0.05% to 52,372.89, the S&P 500 gained 0.31% to 7,506.06, and the Nasdaq Composite climbed 0.48% to 25,994.79.

According to Iran's Islamic Revolutionary Guard Corps, the military has established control over the Strait of Hormuz over the past two weeks and is now progressively reopening shipping lanes. The guard stated that it has maintained security in the waterway and is restoring transit capacity to

According to Jin10 Futures, as of July 9 this week, float glass production showed mixed results across fuel types. Petroleum coke-fired float glass posted average weekly losses of 190.33 yuan/ton, down 1.22% week-over-week. Natural gas-fired production saw average losses narrow to 173.80 yuan/ton, u

According to TankerTrackers, Iran shipped at least 10 million barrels of crude oil and fuel overnight as the country anticipated a potential U.S. resumption of maritime sanctions.

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Bitcoin and Ethereum recovered most losses within hours after Iran-related geopolitical headlines triggered brief market selloff on July 9. Initial reports sparked risk-off trading as oil climbed and crypto prices dropped, but markets reversed course after subsequent reports indicated Iran's

According to market reports, Iraq and HKN Energy signed an agreement on July 9 to develop the Hamrin oil field. The project targets production capacity of 140,000 barrels per day and daily natural gas output of 40 million cubic

According to Yonhap Infomax, South Korea's government bond yields rose on July 9, with the 3-year yield climbing 3 basis points to 3.778% and the 10-year yield increasing 5 basis points to 4.250%. Morning trading was pressured by heightened Middle East geopolitical tensions, which pushed crude oil p

According to BlockBeats, U.S. stock index futures edged higher on July 9 amid escalating U.S.-Iran tensions and rising oil prices. S&P 500 futures rose 0.2%, Nasdaq-100 futures climbed 0.61%, and WTI crude oil futures gained nearly 1% following a reported U.S. strike on Iran in response to attacks n

According to BlockBeats, on July 9, a new round of U.S.-Iran military clashes broke out, blocking Trump's attempts to exit the conflict. The ceasefire agreement remains fragile amid escalating tensions over Hormuz Strait control, while oil prices continued to rise. A Reuters-Ipsos poll released on t

According to Jin10, BP Chief Executive Meg O'Neill said on July 9 that safety remains the company's foremost priority, emphasizing daily operations must be secure, reliable, and cost-effective. O'Neill outlined three key priorities: prioritizing safety, implementing clearer accountability, and

Commodity mining ETFs recorded double-digit losses over the recent 3 months as raw material prices halted their surge and profit-taking sales emerged. Gold mining ETF GDMN fell -28.46% during this period, while silver mining ETFs SLVP and SILJ declined -16.42% and -17.22% respectively. The

According to Seoul Economy, commodity mining exchange-traded funds that topped global ETF returns from late 2025 through early 2026 have posted sharp declines over the past three months. Gold mining strategy ETF GDMN fell 28.46% in the three-month period through July 7, while gold-focused GOEX

According to S&P Global Market Intelligence data, the iTraxx Europe Crossover index for euro-denominated high-yield credit default swap spreads fell 5 basis points to 246 basis points on July 9, as declining oil prices improved risk sentiment. The decline in default protection costs reflects