Commodities (Crude Oil & Copper) & Macro Outlook

According to an industry survey reported on October 29, Saudi Arabia's December official selling price (OSP) for crude oil to Asia is likely to remain at a six-year low. Five refinery industry participants indicated that the flagship Arab Light crude's December OSP is expected to hold at last

The London Metal Exchange is exploring tokenization of metals stored in Hong Kong warehouses for financing purposes, Reuters reported on October 28 citing multiple sources. The initiative is linked to Hong Kong's strategy to develop into a commodities trading hub, as outlined in a five-year

According to Reuters, the London Metal Exchange (LME), a subsidiary of Hong Kong Exchanges and Clearing, is exploring tokenizing metal inventory stored in Hong Kong warehouses to create digital assets for use as loan collateral and other financing activities, supporting Hong Kong's strategy to

According to EU energy officials, the aviation fuel supply security threat that emerged during summer 2026 has now been resolved. The officials stated that the risk that previously endangered supplies is no longer

According to Singapore's Enterprise Singapore (ESG), Singapore's middle distillate stockpiles rose by 197,000 barrels to 8.502 million barrels for the week ended October 28, marking a two-week high.

According to Singapore's Economic Development Board, light distillates inventory rose by 333,000 barrels to 11.304 million barrels as of the week ended October 28, reaching a two-week high.

According to Shell's CFO, the company's diesel production rose 5% year-over-year in the third quarter of 2026. High vessel lease costs affected net debt on a non-cash basis, though the company expects this impact to normalize gradually in the

Data shows Russia's seaborne automotive fuel imports increased 18% month-over-month in October, reaching 430,000 tons, according to calculations by data and research institutions.

Azerbaijan's Central Bank forecasted oil prices at $92.8 per barrel for 2026 and $82.8 per barrel for 2027.

According to the Ministry of Commerce on October 29, China announced its 2027 commodity export quotas, including 5.2 million kg of licorice products, 1.604 million kg of ephedra grass, 160,540 live pigs (to Hong Kong and Macau), 22,000 live cattle (to Hong Kong and Macau), 3 million live chickens (t

According to Jin10 Futures, on October 29, Shanghai Futures Exchange released energy and chemical futures warehouse receipts data. Pulp futures warehouse receipts increased to 421,249 tons, up 28 tons from the previous trading day. Most other energy and chemical futures contracts, including crude

TotalEnergies reported third-quarter adjusted net profit of $9.1 billion in Q3 2026, exceeding market expectations of $8.9 billion. The energy giant posted earnings $200 million above consensus estimates.

Shell reported adjusted profit of $10.81 billion in the third quarter, beating the market estimate of $10.23 billion. The company's operating cash flow reached $21.04 billion, also exceeding the estimate of $16.13 billion. However, Q3 revenue came in at $92.85 billion, below the expected $99.53 bill

Shell expects combined natural gas production in the fourth quarter of 2026 to reach between 1.08 and 1.18 million barrels of oil equivalent per day.

Shell forecasts liquefied natural gas production of approximately 7.3 to 7.9 million tons in the fourth quarter of 2026.

China's National Development and Reform Commission (NDRC) adjusted domestic gasoline and diesel prices, raising them by 345 yuan and 335 yuan per ton respectively, effective October 29, 2026 at 24:00. The adjustment reflects elevated global crude oil prices amid escalating Middle East geopolitical t

According to the UK Maritime and Trade Association, a vessel caught fire in the Strait of Hormuz approximately 9 nautical miles north of Hasab, Oman, on October 29. The captain of a third-party vessel reported the incident; the status of the crew aboard the burning vessel remains

According to Guru Club, lithium carbonate futures main contract fell below 90,000 yuan/ton on October 29, declining nearly 7% and marking a new low since November 2025. The contract has lost approximately 60% of its value since

Brent crude oil fell below $110 per barrel today, trading at $109.98 with an intraday decline of more than 1.4%.

According to Jin10, on October 28, CME precious metals and energy futures showed mixed trading activity and positioning. Gold futures volume increased to 169,757 contracts (up 9,257 from the prior session) with open interest climbing to 399,196 contracts (up 2,386); silver volume rose to 49,050 cont