Commodities (Crude Oil & Copper) & Macro Outlook

According to Reuters, WTI Midland crude oil spreads in European markets rose this week as buying interest recovered following a decline since last weekend. In a reported transaction, Gunvor purchased November 21-25 delivery barrels from Occidental Petroleum at a cost, freight, and insurance (CIF) pr

Shanghai nickel futures rose 2.93% and stainless steel climbed 2.11% overnight on Oct. 20. Other metals showed mixed performance: international copper fell 0.18%, Shanghai copper declined 0.15%, while Shanghai aluminum, zinc, lead, and tin rose 1.44%, 0.59%, 0.09%, and 0.11%, respectively.

Iraqi oil company Gulf Keystone plans to increase daily crude production at its Shaikan oilfield from approximately 45,000 barrels per day to over 90,000 barrels per day by 2030 if drilling operations begin next

LME copper futures fell $64 to $14,356 per ton today (Oct 21), weighed down by rising inventory. LME nickel surged $572 to $16,234 per ton. Aluminum rose $39 to $3,042 per ton; zinc gained $30 to $3,755 per ton; lead up $16 to $1,910 per ton. Tin declined $86 to $51,248 per ton, while cobalt

On Wednesday, Oct 21, ICE UK natural gas futures rose 2.12% to 213.800 pence per therm during European afternoon trading, with intraday peak reaching 218.870 pence. TTF Dutch natural gas futures climbed 0.26% to 86.550 euros per megawatt-hour, also approaching intraday highs of 88.987 euros. EU

Angola's preliminary December crude oil export plan shows 32 cargoes loaded, up from 28 cargoes in November, according to the export schedule.

U.S. crude oil inventories fell by 3.06 million barrels last week, according to data reported by Walter Bloomberg on October 21. The decline was roughly nine times larger than the market forecast of 324,000 barrels. The larger-than-expected draw reflects tighter crude supply conditions in the U.S. a

NYMEX natural gas futures fell 5% and hit an intraday low not seen in five weeks.

WTI crude oil and Brent crude oil prices each declined more than $1 per barrel in intraday trading, now trading at $96.37 per barrel and $105.31 per barrel respectively.

Saudi Arabia's crude oil exports reached a five-month high in August even as production plunged to a record low, according to JODI figures released October 21. The unusual divergence in the kingdom's energy sector occurred amid continuing Middle Eastern supply disruptions caused by the war

According to BlockBeats, predict.fun launched 6 fifteen-minute volatility prediction markets covering UNITREE, ZHIPU, SKHYNIX, SNDK, XAU, and CL (crude oil) on October 21. The markets are now open for trading.

According to agricultural consulting firm SovEcon, on October 21, Ukraine's grain export forecast for the 2026/27 season was cut to 33 million tons, down 5.1 million tons from previous estimates. Corn exports were reduced by 3.8 million tons and wheat by 1.2 million tons. The revision reflects

According to EIA data, U.S. crude oil production fell to 19.464 million barrels per day for the week ending October 16, down from 20.95 million barrels per day in the prior week.

According to EIA data, U.S. gasoline production demand for the week ending October 16 reached 9.91 million barrels per day, up from 9.20 million barrels per day in the previous week.

According to EIA data, U.S. distillate fuel oil production declined to 5.1097 million barrels per day for the week ending October 16, down from 5.695 million barrels per day in the previous week.

According to the U.S. Energy Information Administration (EIA), refined oil inventory rose 1.675 million barrels in the week of October 16, reversing the prior week's decline of 2.527 million barrels.

According to EIA data, Cushing area crude oil inventories declined by 987,000 barrels for the week of October 16, compared to an increase of 1.862 million barrels in the previous week.

According to the U.S. Energy Information Administration (EIA), American crude oil inventories declined by 3.06 million barrels last week, falling short of Bloomberg users' forecast of 3.5 million barrels. The previous week saw a sharper decline of 8.557 million barrels.

According to EIA data, U.S. gasoline production rose to 518,000 barrels per day in the week ending October 16, compared with the previous week's decline of 117,000 barrels per day.

According to data provider Kpler, Middle East oil shipments reached 24.6 million barrels per day as of the week ending October 18, showing resilience despite escalating Iranian attacks on commercial vessels in the Strait of Hormuz. However, transport volumes remain volatile, with October-to-date