Commodities (Crude Oil & Copper) & Macro Outlook

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

According to Energy Secretary Sharon Garin, Philippine motorists will face steep fuel price increases starting July 21, with diesel rising P10.68 per liter, gasoline up P3.65 per liter, and kerosene increasing P11.77 per liter, as announced on July 20. The hike follows renewed hostilities in the

According to Morgan Stanley, Europe faces tightening diesel supply, with inventories declining and refining profits hitting record highs, as stated in a July 19 report. The bank's supply-demand model, presented by analyst Martijn Rats and colleagues, shows European diesel stocks are expected to

U.S. stock index futures for the three major indexes fell on July 20: S&P 500 index futures and Nasdaq 100 index futures each dropped about 0.1%, while Dow Jones index futures fell nearly 0.2%. The trigger was the eighth consecutive day of U.S. airstrikes on Iran. The U.S. Central Command said the operation was intended to weaken Iran’s ability to threaten commercial shipping through the Strait of Hormuz and to quickly punish Iran’s Islamic Revolutionary Guard Corps (IRGC) forces that attacked U