Commodities (Crude Oil & Copper) & Macro Outlook

According to Guru Club, President Trump claimed on September 8 that global oil prices and U.S. retail gasoline prices will crash after the U.S. defeats Iran. In a Truth Social post, Trump predicted prices will first drop to $3 per gallon and ultimately fall below $2 per gallon. Trump stated the

Korea and the United States are negotiating an investment of approximately $22.3 billion in a gas power plant project in Texas. The proposed project would construct a 6.3-gigawatt gas power plant in Encinal, Texas, to address surging electricity demand from AI data centers. If finalized, the investm

Panama Canal Authority administrator Ilia Espino stated on September 7 that if rainfall in the canal basin remains below expected levels in coming months, daily transit capacity could be further reduced from 32 vessels to approximately 29 vessels starting early next

On September 7, Panama Canal Authority administrator Illia Espino warned that if rainfall in the canal watershed remains below expectations in the coming months, daily transit volume could be further reduced from the current 32 vessels to approximately 29 vessels starting in early 2027. Espino, the

According to Jin10, as of 2:30 a.m. on September 8, Shanghai gold futures fell 0.04% to 954 yuan per gram, while Shanghai silver futures rose 0.74% to 16,143 yuan per kilogram and SC crude oil futures gained 1.73% to 700 yuan per

Shanghai Futures Exchange crude oil contract 2610 closed 1.73% higher at 700.40 yuan per barrel during the overnight session. Shanghai gold fell 0.04% while Shanghai silver rose 0.74%.

WTI crude oil broke through $93 per barrel during intraday trading on September 7, gaining 1.62% for the day.

According to Bitcoin News, the CFTC has requested a federal court to dismiss CME's lawsuit against Kalshi's Bitcoin perpetual futures (BTCPERP), which were approved on May 29. Kalshi's BTCPERP is a cash-settled contract with no expiration date and uses a funding rate mechanism to track the spot

According to vessel tracking data, the Qatari LNG tanker Al Marrouna approached the Strait of Hormuz on Monday, with Pakistan's Karachi port listed as its next destination and expected arrival by Thursday. The vessel was loaded with liquefied natural gas at Qatar in early August. This marks the

According to Guru Club, London Metal Exchange (LME) copper futures reached a historic peak on September 7, breaking through $14,530 per ton.

WTI crude oil futures rose 2.00% intraday on September 7, trading at $93.05 per barrel.

On the evening of September 7, asphalt futures rose approximately 2.6%, low-sulfur fuel oil climbed 2.6%, fuel oil gained 2%, and iron ore advanced 0.9% in overnight trading.

According to Thai sugar factory executives, Thailand's sugar production for the 2026/27 crushing season starting in October is expected to drop below 10 million tons, a decline of at least 17% from approximately 12 million tons in the previous season. The production slowdown is driven by prolonged d

According to Bloomberg, Iran and Oman are in final stages of reaching an agreement on Strait of Hormuz navigation management, expected to be completed within days, Iran's Foreign Ministry spokesman Esmail Baghaei said on Monday (Sept 7). The two countries plan to establish a temporary secure

According to President Volodymyr Zelensky's official statement on Telegram on Monday, Ukraine's long-range strike forces attacked oil refineries in Russia's Perm and Tatarstan regions on Sunday evening. Zelensky confirmed the operation but did not provide additional details. The strikes resumed

According to Guru Club, citing data from Chile's central bank, the world's largest copper producer saw exports drop to 4.62 billion dollars in August, down 14% from July and 3.2% year-over-year—the lowest monthly figure since July 2025. The decline occurred despite copper prices averaging 40%

According to German inland waterway authorities (WSV), the Rhine River's key navigable point at Kaub, near Koblenz, dropped to approximately 34 centimeters on September 7, compared to 50 centimeters the previous week. The declining water level has forced cargo vessels to reduce loads again, with

According to Jin10 data on September 7, South Africa's second-quarter GDP is expected to contract 0.1%, ending a decade-long streak of quarterly growth, as the Iran conflict suppressed domestic demand and key industries shrank. A median survey of 14 economists forecast the contraction, down from a 0

According to BlockBeats, on September 7, the United Arab Emirates' presidential advisor Anwar Gargash announced that the UAE is actively building alternative energy export and trade routes to ensure its core economic interests remain independent of U.S.-Iran conflict. Gargash stated, "Our energy exp

According to Guru Club, the Baltic Dry Index (BDI) fell 53 points to 3,575 on Sept 7, ending a three-day rally, as capesize and panamax vessel rates weakened. The Capesize Index (BCI) dropped 141 points to 6,286, down 2.2%, while the Panamax Index (BPI) declined 17 points to 2,431, down 0.7%. The