Commodities (Crude Oil & Copper) & Macro Outlook

According to CNBC, the U.S. continued strikes on Iran for a 10th straight night on July 20 after President Trump promised retaliation for American service member deaths in the conflict. Iran's Islamic Revolutionary Guard Corps claimed it struck Amazon infrastructure in Bahrain with missiles,

According to Guru Club, Germany and Azerbaijan issued a joint statement today (July 21), committing to strengthen cooperation on energy flows, including natural gas, and other key global issues.

Brent crude oil rose 1.5% intraday on July 21, reaching $90.56 per barrel, while WTI crude gained 1.5% to $83.72 per barrel during the same period.

Nodal Exchange announced on July 20 that it plans to launch hourly power futures contracts on August 31, with 168 contracts covering seven major U.S. power regions. Each region will offer contracts for 24 hourly periods within a single day, supporting trading up to five business days ahead,

NinjaTrader Group has appointed Mark Omens, former CME Group Head of Retail Business and Americas Sales, as Senior Vice President of Commercial Strategy. Omens brings 25 years of futures industry experience, having led CME's global retail strategy and built relationships with brokers, technology

According to the Wall Street Journal, the Abu Dhabi National Oil Company (ADNOC) is proceeding with the $6.2 billion Umm Shaif gas cap development project despite Middle East geopolitical tensions highlighting supply vulnerabilities. The decision reflects ADNOC's confidence in sustained long-term

According to Bloomberg, Houthi forces issued a warning to ship owners on Monday demanding that all vessels refrain from docking at Saudi ports. In an email to shipping companies, the Iran-backed militia stated that its maritime blockade applies not only to Saudi vessels but to all ships calling at S

Iran struck Kuwait's power generation and water desalination facilities overnight on July 20, triggering fires at the targeted sites. According to Kuwait, the overnight strike impacted critical infrastructure supporting the country's energy and water

According to JODI (Joint Organizations Data Initiative), Saudi Arabia's petroleum product exports increased by 74,000 barrels per day to 1.083 million barrels per day in May. The kingdom's crude oil inventory also grew by 2.827 million barrels to reach 142.794 million barrels during the same

According to JODI (Joint Organizations Data Initiative), Saudi Arabia's domestic refineries processed 2.386 million barrels per day in May, an increase of 175,000 bpd from the previous month.

According to JODI (Joint Organizations Data Initiative), Saudi Arabia's direct crude oil burn increased by 107,000 barrels per day in May, reaching 647,000 barrels per day.

According to the Joint Organizations Data Initiative (JODI), Saudi Arabia's crude oil inventory increased by 2.827 million barrels in May, reaching 142.794 million barrels.

According to the Joint Organizations Data Initiative (JODI), Saudi Arabia's crude oil output rose by 244,000 barrels per day in May, reaching 6.56 million barrels per day.

According to JODI (Joint Organizations Data Initiative), Saudi Arabia's oil product demand rose 90,000 barrels per day in May, reaching 2.667 million bpd.

According to the Joint Organization Data Initiative (JODI), Saudi Arabia's crude oil exports declined by 552,000 barrels per day in May, falling to 3.434 million barrels per day.

According to PPP prediction market tool monitoring Polymarket, the market predicts a 75% probability that WTI crude oil will breach $85/barrel during July, with 32% odds for $90/barrel and 17% odds for $95/barrel. The prediction reflects rising market concerns over Middle

According to International Energy Agency (IEA) Executive Director Fatih Birol, recent hostile actions against energy infrastructure in the Strait of Hormuz and Bab al-Mandab have escalated global energy supply concerns. However, multiple factors continue to support the oil market. Gulf producers

According to market reports, Kazakhstan will halt petroleum shipments to the Black Sea following a tanker attack on July 21. The decision comes as the country responds to the incident affecting its oil transportation

According to Guru Club, on July 21, 42 Chinese steelmakers cut waste steel procurement prices, with reductions ranging from 10 to 40 yuan per ton, while 9 steelmakers increased their prices.

WTI crude oil rose 1.00% intraday on July 21, trading at $83.74 per barrel.