Commodities (Crude Oil & Copper) & Macro Outlook

According to Tankertrackers, the Iranian VLCC 'DOWNY' operated by the National Iranian Tanker Company sustained damage to the engine room today (Sept 5, around 12:45 PM Beijing time). Satellite imagery showed the vessel in ballast condition with no oil cargo, and multiple tugboats were active around

According to Guru Club, Brent crude oil broke through $95 per barrel on September 5, up 0.8% intraday.

Hyundai Steel and POSCO held a groundbreaking ceremony in Louisiana for a joint steel mill construction project. The facility will specialize in automotive steel plates with an annual production capacity of 2.7 million tons, requiring a total investment of $5.8 billion (8 trillion KRW) with mass pro

A Jefferies-linked private credit fund, LAM Trade Finance Group II, secured a worldwide freezing order from London's High Court targeting $499 million in assets connected to iron ore trader Radiant World. The order names Radiant World's founder Pinkesh Nahar, affiliated entity Sapphire Minmetals, an

According to Daqing Oilfield, cumulative natural gas production from the Maokouzu layer in the Sichuan-Chongqing exploration area reached 1.001 billion cubic meters as of August 31, 2026, marking the first time the layer has surpassed the 1 billion cubic meter milestone. The breakthrough signals a s

US intelligence agencies assessed that Iran has gained military confidence during a six-month armed conflict with the United States and is resolved to prolong the war until the November US midterm elections, according to a recent intelligence report cited by The New York Times on the 4th local

According to The New York Times, citing a U.S. intelligence report dated September 4, Iran has decided to prolong its six-month armed conflict with the United States through November's midterm elections. The report assesses that Iran has gained military confidence and views control

According to Iran's SNN news agency, an Iranian oil tanker positioned near Halul Island was struck by missiles on September 5, with no casualties reported so far. The incident comes after earlier reports of explosions in the vicinity, though no smoke or fire was observed over the Persian Gulf

According to Kyodo News, on September 4, Japan's Minister of Economy, Trade and Industry Akasawa Ryosei reaffirmed with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer that Japan will proceed with its commitment to invest $550 billion in U.S. strategic sectors

South Korea's Ministry of Trade, Industry and Energy announced that the country's cumulative exports reached $709.4 billion as of 13:00 on September 5, surpassing the previous annual record of $709.3 billion set in 2025. The milestone was driven by a semiconductor export boom, with shipments

South Korea's exports reached $709.4 billion from January to September 2026, marking a historic record, according to official trade statistics. The figure surpasses all previous annual export records for the

According to the China Federation of Logistics and Purchasing, China's bulk commodity price index reached 132.3 points in August, rising 2.8% from the previous month and up 18.4% year-on-year, as domestic and overseas demand recovered and extreme weather impacts eased. Among 50 key commodities

Central banks accelerated gold purchases as the precious metal climbed to $4,500 per ounce in recent trading, marking a nearly 10% gain over one month amid rising US long-term bond yields and fiscal deficit concerns. China's central bank added 640,000 ounces in July, extending its buying streak to 2

According to the American Automobile Association, U.S. diesel retail prices surged to $5.85 per gallon on Friday, September 5, marking a record high. Regular gasoline also climbed to $4.15 per gallon. BlockBeats reported that diesel inventories have fallen to historic lows while export volumes

According to BlockBeats, US nonfarm payrolls added 162,000 jobs in August, far exceeding expectations of 56,000, and reignited market bets on a September Federal Reserve rate hike to above 60%. The data highlighted divergence within the Fed as President Trump continues to publicly pressure for rate

According to Jin10 Data, on September 5, the U.S. Pentagon secured priority purchase rights to crude oil from 17 Venezuelan oilfields operated by NABEP and can acquire 20% of their output at cost price rather than market rate, with the remainder purchased at market prices. The Pentagon also

According to Argentina's presidential statement on September 4, the Argentine government has launched administrative penalties against 45 entities allegedly conducting oil and gas exploration and extraction in the Malvinas Islands (Falkland Islands). The enforcement targets include companies,

Korean stocks face a critical week from September 7-11 as the KOSPI navigates heightened volatility following US-Iran military tensions and monetary policy uncertainty, with market focus shifting to upcoming US August Consumer Price Index (CPI) and Producer Price Index (PPI) releases. The volatility

According to Ukrainian General Staff, Ukraine's attacks halted two major Russian oil refineries on September 5. The operation marks a significant strike on Russian energy infrastructure during ongoing military operations. Meanwhile, U.S. peace envoys, including Trump's special representative, are e

According to BlockBeats, President Trump stated at the White House on Friday, September 5, that the U.S. has sunk numerous vessels through the Strait of Hormuz and is extracting significant oil volumes while maintaining control of the strategic waterway. Trump added that the U.S. may soon strike Hor