Commodities (Crude Oil & Copper) & Macro Outlook

According to Commerzbank rate strategist Rainer Guntermann, rising oil prices are expected to lock in a European Central Bank rate hike in September, with markets already fully pricing in this expectation. ECB President Christine Lagarde may adopt a hawkish tone on inflation risks. However, as

Gulf Basins Petroleum has temporarily suspended production as a precautionary measure in response to changes in regional security conditions. The company confirmed its assets remain unaffected, with Shaikan field output exceeding 45,000 barrels per

According to Guru Club, the Baltic Shipping Index (European route) main contract rose 8.0% to 2,852.0 points today (July 20).

Germany's producer price index (PPI) rose 1.8% year-over-year in June, matching economists' expectations and declining from 2.2% in May.

From 05:00 to 05:15 (UTC) on July 20, 2026, BTC fell 0.46% over 15 minutes. The price range was 64,080.1–64,562.8 USDT, with a spread of 0.75%. Against a backdrop of rising geopolitical tensions, the market adopted a wait-and-see stance; trading volume was just 179 BTC, reflecting extremely low participation. Neither the long nor the short side showed a clear consensus on direction. The main driver behind this move was a rapid escalation in the U.S.-Iran conflict. For the ninth consecutive night

According to BlockBeats, on July 20, Iran declared an end to compliance with the U.S. memorandum and warned of full-scale retaliation if American military operations continue. The U.S. has conducted airstrikes for nine consecutive nights and deployed additional F-16, F-35 aircraft, and tankers to th

According to Jin10 Futures, today Zhengzhou rapeseed meal futures opened lower and rebounded with fluctuations. Canadian canola futures continued climbing, with the benchmark contract closing up 2.2%, driven by soaring international crude oil futures, while Chicago soybean oil and European rapeseed

According to Yonhap Infomax, South Korea's government bond yields surged on July 20 morning. The 3-year benchmark yield rose 5.6 basis points to 3.908%, the 10-year yield climbed 4.0bp to 4.340%, and the 30-year yield increased 4.6bp to 4.522%. The gains were driven by escalating U.S.-Iran

According to Yonhap Infomax, on July 20 morning at 11:01 Seoul time, E-mini S&P 500 futures rose 0.02% to 7,499.25, while tech-focused Nasdaq-100 futures gained 0.22% to 28,837.25. The modest advance in equity index futures came despite weakening risk appetite. Commodity markets saw sharper

According to Jin10 Futures, international crude oil futures prices rose significantly on July 20, with China's domestic energy chemicals sector gaining broadly. The Strait of Hormuz closure, coupled with potential disruptions to Red Sea shipping routes, has tightened oil supply expectations.

OCBC released a second-half global economic outlook report on local time July 19, identifying persistent geopolitical risks as a major market misjudgment in the first half of the year. The US-Iran military conflict escalated beyond initial market expectations of a short-term event, with the

From 03:30–03:45 UTC on July 20, 2026, BTC briefly rose by 0.34%, with a price fluctuation range of 64,665.5–64,902.9 USDT and an amplitude of 0.37%. Gold surged by 3.84% on the same day, but BTC’s 24h move was only +0.05%, with thin trading volume (only 179 1-hour candlesticks). With geopolitical uncertainty at a high level, the market is in a wait-and-see mode, and neither bulls nor bears have a clear directional consensus. The main driver of this uptick is the sharp escalation of the US–Iran

According to Jin10, Bayanzhaosu Oil Field in Inner Mongolia's Bayannur reached cumulative crude oil output of 6 million tons on July 19, achieving this milestone just seven months after surpassing 5 million tons in December 2025. Daily output remained stable at 4,800 tons in the first half of 2026,

US stock futures climbed higher in the overnight session late Sunday ahead of a key earnings week. Nasdaq-100 futures rose 0.45%, Dow futures gained 0.04%, and S&P 500 futures advanced 0.14% at 9:11 PM EDT. The gains came as tensions in the Middle East escalated over the weekend, with the US

According to Jin10, hedge funds' net short positions on the New Zealand dollar surged to 29,582 contracts by July 14, up 1,907 from the prior week, marking a record high since 2006. The Commodity Futures Trading Commission (CFTC) data shows traders are betting against the NZD amid concerns over the

According to BlockBeats, on July 20, Zhu Su, co-founder of Three Arrows Capital, compared artificial intelligence to oil as an economic parallel. Both exist in multiple forms and will eventually become commodified, he noted. Both require large-scale capital development often backed by

According to Guru Club, China's Shanghai Containerized Freight Index European route main contract broke through 2,800 points on July 20, rising 6.06% intraday.

According to Guru Club, methanol futures contracts 2610 and 2611 hit daily limit-up intraday on July 20, then opened their limit-up positions with reduced gains. The main contract 2609 is up 5.61% to 2,784 yuan per ton, retreating from earlier gains of

Motorists in the Philippines face steep fuel price increases starting July 21, Energy Secretary Sharon Garin announced at a press conference on July 20. Diesel will rise P10.68 per liter, gasoline will increase P3.65 per liter, and kerosene will jump P11.77 per liter. The price hikes stem from