Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, China's crude oil futures surged more than 8% on July 9, driven by escalating U.S.-Iran tensions and uncertainty surrounding a previously reached memorandum of understanding. Analysts warn that if the bilateral accord collapses, disruptions to shipping through the Strait of

According to customs data, Indonesia received its first Russian crude oil shipment of 770,000 barrels valued at approximately $75 million on June 29, following an agreement reached with Moscow in April. The tanker Sera arrived at the Port of Balikpapan carrying crude loaded from Russia's Kozmino

According to Ukrainian President Zelensky, on July 9, Ukrainian forces struck Russian oil storage facilities in the Tver and Stavropol regions.

The Bank of Japan (BOJ) released its regional economic report (Sakura Report) finding that corporate capital investment remains robust amid expanding global artificial intelligence (AI) demand, while cost increases from labor and raw materials—particularly those linked to Middle East conflict—are

According to the Bank of Japan's Sakura Report released on July 9, Japanese companies maintain robust capital expenditure plans supported by surging global artificial intelligence demand, with semiconductor equipment orders and related manufacturing activity underpinning production levels across

WTI crude oil dropped 3.00% to $72.27 per barrel in intraday trading on July 9.

WTI crude oil futures fell 3.00% intraday on July 9, trading at $72.51 per barrel.

Baosteel announced on July 9 that it will adjust the rare earth concentrate transfer pricing for Q3 2026 to 38,565 yuan per ton (before tax, dry basis, REO 50%), following the pricing mechanism approved at its 2022 annual shareholder meeting. For every 1% increase or decrease in REO content, the pr

According to Jin10 on July 9, Sterling surged to a one-year high against the Euro and a three-week high against the U.S. Dollar, driven by rising market expectations for Bank of England rate hikes amid escalating U.S.-Iran tensions pushing oil prices higher. Monex Europe analysts noted that oil

According to CryptoQuant analyst Darkfost, Brent crude oil prices surged approximately 10% over two days as of July 9, with the price breakthrough above its annual average line typically signaling economic stress periods characterized by rising inflation, declining production, and slower growth. Da

According to Singapore's Economic Development Board, as of the week ending July 8, mid-distillate oil inventories in Singapore increased by 813,000 barrels to 8.912 million barrels, marking a six-week high.

According to Singapore Enterprise Development Board (EDB), as of the week ending July 8, Singapore light distillate inventories fell 455,000 barrels to 12.245 million barrels, marking the lowest level in three

According to Singapore's Economic Development Board, fuel oil inventories fell by 477,000 barrels to 19.177 million barrels for the week ending July 8, marking the lowest level in three weeks.

According to the Norwegian Offshore Industry Group, oil production losses are increasing and are expected to reach approximately 120,000 barrels of oil equivalent per day by mid-to-late July.

According to Odaily, Polymarket has launched perpetual futures trading, supporting 10 assets including BTC, ETH, SOL, HYPE as well as traditional assets such as gold, silver, and stock indices (SP500, NAS100, WTIOIL, SPCX). The platform offers up to 20x leverage on these

According to the Norwegian Offshore Industry Association, an ongoing strike by oil service workers has caused operators to lose 2.4 million barrels of oil equivalent in accumulated historical and future production this

According to Rostov Governor Yuri Slyusari, Ukrainian drones struck two Russian oil tankers in Taganrog Bay on July 9, with both vessels catching fire and suffering mechanical damage. One fire was subsequently extinguished. Ukraine has significantly intensified attacks on Russian energy

Capital.com reported $1.13 trillion in client trading volume during the second quarter, with Gold accounting for 42.4% of all platform activity as geopolitical tensions, volatile commodity markets and shifting U.S. interest rate expectations drove retail traders toward precious metals. The online tr

According to Capital.com, Gold dominated retail trading on the platform during Q2 2026, accounting for 42.4% of $1.13 trillion in total trading volume between April and June. The most actively traded instrument by a significant margin, Gold's dominance reflected three distinct market themes: