Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 data, Pakistan and Bangladesh were forced to purchase liquefied natural gas at multi-year highs on July 21 due to Middle East supply disruptions. Pakistan's state-owned LNG company bought a cargo on Monday at approximately $21.88 per million British thermal units, the highest

London Copper rose 0.8% today on July 21, reaching $13,731 per ton. The move brings prices to their highest closing level since June 17, marking a notable recovery in the base metals complex.

According to Goldman Sachs, Persian Gulf liquefied natural gas exports are expected to face further delays in returning to normal operations due to sustained uncertainty in the Middle East.

Goldman Sachs raised its Q3 and Q4 TTF natural gas price forecasts to €60 and €53 per MWh respectively, up from previous estimates of €41 and €40.

According to Jin10 market data compiled on July 21, U.S. gasoline prices surpassed the $4-per-gallon mark for the first time in a month, while U.S. strategic petroleum reserves fell to their lowest level since March 1983. The combination of tightening supply and increased energy demand has

According to Jin10 Futures on July 21, product-to-sales ratios for Shandong independent refineries' gasoline and diesel reached 105% over the past week, up 11 and 6 percentage points respectively from the prior week. Gasoline prices surged 527 yuan per ton, while diesel prices jumped 987 yuan per to

According to Goldman Sachs report, Brent crude could rise above $120 per barrel in Q4 if the Strait of Hormuz disruption persists, though this is not the bank's base case scenario. Under its base assumption of regional de-escalation, Goldman Sachs forecasts Brent crude at $80 per barrel in Q4

ADNOC announced today that it has approved the final investment decision for the Umm Shaif gas-cap project, valued at $6.2 billion, as part of its accelerated natural gas growth strategy.

ADNOC plans to bring its development projects into production by 2030, according to the company statement.

According to CME data on July 20, energy and precious metals futures showed divergent trends. Brent crude oil trading volume increased by 81,425 contracts to 206,287 contracts, with open interest rising 1,561 contracts to 247,785 contracts. Natural gas volume climbed 29,417 contracts to 404,680 cont

The South Korean government stated that September crude oil procurement has reached approximately 90% of the prior year's level, addressing concerns over supply disruptions amid escalating US-Iran tensions. The Ministry of Trade, Industry and Energy (MOTIE) reported that July-August oil imports

According to South Korea's Ministry of Industry and Trade (Yonhapinfomax), the government has secured over 90% of its September crude oil imports compared to the previous year as of July 21, with July and August supplies reaching over 110% of the previous year's average. Six Korean-bound tankers

According to Energy Aspects founder and research director Amrita Sen on CNBC on July 20, oil prices could breach $100 per barrel as shipping through the Strait of Hormuz faces de facto closure and global crude buffer reserves deplete after five months of U.S.-Iran

According to Bloomberg, Sinokor Group, the world's largest supertanker owner, offered crew members a bonus equivalent to six months' salary to complete a voyage from Saudi Arabia or Iraq to Oman Bay this week. The round-trip journey through the Hormuz Strait requires approximately one month. The bon

According to Signal Group, as of July 15, over 728 tankers were positioned near the Strait of Hormuz, comprising 394 empty vessels and 334 laden tankers. Since tensions escalated on July 6, the share of tankers transiting the strait with transparent ownership information declined to 45%, down

According to Yonhapinfomax, on July 21, South Korea's 10-year government bond yield rose 2.3 basis points to 4.365%, while the 30-year yield increased 3.6 basis points to 4.571%. The three-year benchmark yield remained flat at 3.897% compared to the previous day. In government bond futures

According to Jin10 Futures, on July 21, East China industrial silicon prices of multiple grades remained stable. 553 unoxidized silicon, 553 oxidized silicon, 521, 441, 421, 421 for silicone use, and 3303 all held steady. Prices in South China, Huangpu Port, Tianjin, Sichuan, Kunming, Northwest, and