Commodities (Crude Oil & Copper) & Macro Outlook

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:

According to Yonhapinfomax, Japan's 10-year government bond yield reached 2.9017% on July 9 afternoon, marking the highest level since September 1996. The surge was driven by rising crude oil prices due to escalating U.S.-Iran military tensions, which increased inflation expectations and pushed bon

Northern Rare Earth announced the company adjusted its Q3 2026 rare earth concentrate trading price to 38,565 yuan per ton (ex-tax, dry basis, REO content 50%), based on the rare earth oxide pricing methodology and Q2 2026 price data. For each 1% change in REO content, the ex-tax price adjusts

According to Jin10 Futures, as of July 9, Shanghai Futures Exchange (SHFE) pulp futures warehouse inventory increased 3,416 metric tons day-on-day to 293,788 tons. Other energy and chemical commodities tracked by SHFE, including paperboard, fuel oil, bitumen, and crude oil futures, showed flat day-o

The Philippine government is ending the temporary excise tax suspension on kerosene and liquefied petroleum gas (LPG) on July 8, the Bureau of Internal Revenue (BIR) announced. The suspension terminates after the Department of Energy (DOE) certified that the one-month average Dubai crude oil price f

According to the Bureau of Internal Revenue, the temporary excise tax suspension on kerosene and liquefied petroleum gas (LPG) ends on July 8, after Dubai crude oil prices fell below the government's $80-per-barrel trigger. The Department of Energy (DOE) certified that the one-month average Dubai cr

According to OPEC, U.S. Energy Information Administration, and UN trade data, the Middle East exported 16.3 million barrels of crude oil daily in 2025, far exceeding the Commonwealth of Independent States (6.2M b/d) and Africa (4.6M b/d). China emerged as the world's largest crude importer at 11.5 m

On July 9, WTI crude oil broke below $73 per barrel with an intraday decline of 2.19%, while Brent crude oil fell 2.00% to trade at $77.36 per barrel.

Brent crude oil fell below $78 per barrel on July 9, declining 1.22% during the trading session.

According to Jin10 Data on July 9, Deutsche Bank's private client unit is considering purchases of emerging Asian bonds if crude oil prices maintain around $65-70 per barrel for approximately two months, to help suppress inflation and compress yields. Jacky Tang, the bank's Chief Investment

According to Congo's Ministry of Geology and Mining, the Buguma-Massi potash project, developed by China's Shenzhen Luyuan Mining Investment, will resume commercial potassium chloride production in early 2027, ending decades without large-scale potash output in the country. The project, located in

According to Elliot Hentov, chief macro strategist at State Street Global Advisors, on July 9, escalation of Middle East conflict is unlikely to fundamentally change market prospects. Hentov noted that little has emerged since April regarding parties' willingness for war or risk of further escalatio

According to CME data released by Jin10 Futures on July 9, on July 8 gold, WTI crude oil, and Brent crude oil all saw increases in both trading volume and open interest. Gold recorded a trading volume of 214,083 contracts and open interest of 371,921 contracts, up 82,770 and 145 contracts

According to the governor of Russia's Rostov Oblast, two oil tankers came under drone attack in the Sea of Azov recently. The incident marks ongoing military operations in the contested waters off southern

According to Japan's Institute of Energy Economics, the country's June liquefied natural gas spot price reached $17.10 per million British thermal units (MMBtu).

According to Goldman Sachs, Persian Gulf crude output in June remained about 10.5 million barrels per day below pre-conflict levels. The bank warned that further disruptions to shipping through the Strait of Hormuz could slow the recovery of Middle Eastern oil supply, despite producers beginning to

According to Yonhap Infomax, on July 9, South Korea's 10-year government bond yield rose to 4.278%, reaching its highest level in one month. The 30-year yield climbed to 4.491%, marking an all-time intraday high. The rise was driven by escalating U.S.-Iran tensions, which pushed crude oil prices hig