Commodities (Crude Oil & Copper) & Macro Outlook

According to the Wall Street Journal, around July 4 the U.S. Department of Agriculture contacted major food retailers regarding beef pricing ahead of the Independence Day holiday weekend. In communications with Walmart, the retailer confirmed it had already planned to reduce prices on multiple

According to Yonhap Infomax, South Korea's government bond futures declined overnight on July 8 amid escalating geopolitical tensions in the Strait of Hormuz. The 10-year contract fell 28 basis points to close at 105.92, while the 3-year contract dropped 8 basis points to 103.02. Tanker attacks in

Bank of Korea reported May current account surplus reached $38.61 billion, setting a new record. The figure exceeded the previous high of $37.93 billion recorded in March, driven by strong semiconductor exports that surged 167.7% year-over-year. The cumulative January-May surplus totaled $141.28 bil

Korean stocks face downward pressure on May 8 as the KOSPI seeks direction amid dual headwinds: US semiconductor stock weakness and escalating Middle East geopolitical risks. The KOSPI fell 4.91% to 7656.31 on May 7, triggering both a sidecar halt in morning trading and a circuit breaker in the

According to Herald Economy, U.S. stock markets declined on July 7 amid escalating Middle East tensions and semiconductor weakness, with Nasdaq falling 1.16% to 25,818.69. The S&P 500 dropped 0.45% to 7,503.85, while the Dow Jones retreated 0.25% to 52,925.15. Geopolitical risk from renewed U.S.

The US dollar rose against major currencies on the 7th as renewed vessel attacks in the Strait of Hormuz and US sanctions on Iranian oil drove crude prices higher. The dollar index (DXY) climbed 0.190% to 101.056 at 4pm ET, while Brent crude September delivery surged 3.01% to close at $74.16 per

According to Yonhap InfoMax, on July 7, the US Dollar Index rose to 101.056, up 0.190% (0.192 points), as geopolitical tensions in the Strait of Hormuz intensified. The British maritime authority UKMTO reported that three tankers, including a product tanker and vessels from Qatar and Saudi Arabia, c

According to Shanghai Securities Journal, China's major lithium battery material companies reported strong first-half 2026 earnings, with Yahua Group's net profit expected to surge over 8-fold and Cangge Mining, Ganzizhou Salt Lake, and Evvolt

According to Jin10, Russian forces downed over 400 Ukrainian drones targeting Moscow on July 8. Meanwhile, Ukraine's armed forces reported conducting drone strikes on critical infrastructure, with reports indicating Omsk oil refinery suspended operations following Monday's attack. Ukrainian forces a

According to Guru Club, on July 8, Brent crude oil jumped 5% to $75.67 per barrel, while WTI crude climbed 5% above $72 per barrel. Spot gold fell 1.54% to break below $4,100 per ounce.

Rick Rule warned that junk bond ETFs holding trillions in assets face a liquidity mismatch risk that could force the Federal Reserve to resume money printing during a July 7, 2026 interview with David Lin at the Rule Symposium in Boca Raton, Florida. Rule, co-founder

According to CNBC and U.S. Central Command, the U.S. military resumed powerful airstrikes against Iran on Tuesday (July 7) in response to Iran's attack on three commercial vessels in the Strait of Hormuz. The escalation risks reigniting regional tensions and may trigger market concerns over

Trans Mountain, the government-owned Canadian pipeline operator, reached a settlement on Tuesday with oil shippers over a longstanding fee dispute. The company will submit the agreement to Canada's energy regulator for approval; the deal covers the majority of its contracted shipping volume. As

Craig Hemke at Sprott Money stated that gold and silver price lows for 2026 are likely already established following a four-month period of weakness. The precious metals experienced pressure after the Iran War caused inflation expectations and rate hike projections to rise, with crude oil surging

According to Craig Hemke at Sprott Money, gold and silver prices likely hit their 2026 lows in late June, with recovery expected as inflation concerns ease. The precious metals' weakness followed the Iran War, which sent crude oil surging from $65 to $110 per

According to Iran's Foreign Ministry on July 8, the U.S. Treasury revoked a permit suspending sanctions on Iranian oil sales, directly violating the Islamic Agenda Memorandum signed on June 18. The ministry stated the cancellation of the June 21 authorization—less than three weeks after the accord—d

US manufacturers in Rust Belt cities served by PJM Interconnection are paying significantly higher electricity costs as AI data center energy demand strains the largest power grid operator in the United States. The cost increases stem from growing data center power requirements that have driven PJM

Gold held above $4,100 on Tuesday morning as spot gold traded near $4,169.39 an ounce, up 0.10%, while spot silver traded near $61.397, down 1.03%. The modest gains came as Treasury yields moved higher to 4.499% on the 10-year note

According to a Reuters analysis published today, US manufacturers in the Rust Belt region are facing significantly higher electricity costs as growing energy demand from artificial intelligence data centers strains the power grid. PJM Interconnection, the largest grid operator in the region, has

According to the U.S. Energy Information Administration, on July 7, the agency lowered its 2027 Brent crude oil price forecast to an average of $65 per barrel, citing a faster-than-expected recovery from supply disruptions caused by the Iran conflict. The EIA's monthly report indicated that crude pr