Commodities (Crude Oil & Copper) & Macro Outlook

Brent crude oil rose 3.0% to $74.15 per barrel intraday on July 7. The Trump administration downwardly revised its forecast for crude oil prices in the next two years by over $10 and raised its forecast for U.S. crude oil production this year.

The EIA's Short-Term Energy Outlook raised its global oil production forecasts for 2026 to 101.9 million barrels per day, up from a prior estimate of 99 million barrels per day. For 2027, the EIA increased its projection to 109.8 million barrels per day, up from 109.3 million barrels per day

According to the EIA's Short-Term Energy Outlook report released today, the agency lowered its global crude oil demand forecasts for both 2026 and 2027. The 2026 forecast was revised down to 102.8 million barrels per day from the prior estimate of 102.9 million barrels per day. For 2027, the EIA red

According to the U.S. Energy Information Administration (EIA), the agency revised upward its natural gas production forecasts for 2026 and 2027. U.S. natural gas output is now projected at 112 billion cubic feet per day in 2026, up from the prior forecast of 110 billion cubic feet per day.

According to the U.S. Energy Information Administration's short-term energy outlook, U.S. crude oil demand is projected at 20.7 million barrels per day (bpd) in 2026, unchanged from the prior forecast. For 2027, the EIA raised its demand estimate to 20.8 million bpd, up from the previously

According to the U.S. Energy Information Administration (EIA), projected natural gas production for 2027 increased to 1,153 billion cubic feet per day in July, up from 1,136 billion cubic feet per day in the previous

According to the U.S. Energy Information Administration, American crude oil production is forecast at 14.03 million barrels per day in July, down from the previous estimate of 14.15 million barrels per day.

According to the EIA (U.S. Energy Information Administration), American crude oil production is expected to reach 13.78 million barrels per day in July, up from 13.72 million barrels per day in the previous

According to the U.S. Energy Information Administration (EIA), natural gas production for July is forecast at 111.2 billion cubic feet per day, up from 111.0 billion cubic feet per day in the previous month.

According to the U.S. Energy Information Administration (EIA), Brent crude oil is forecast to average $81.91 per barrel for July, down from $95.39 per barrel in the prior forecast period.

According to the EIA, the U.S. July WTI crude oil average price forecast is $76.26 per barrel, down from the prior forecast of $88.32 per barrel.

According to the U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook (STEO) released today, the agency lowered its Brent crude oil price forecasts for 2026 to $82/bbl from a prior estimate of $95/bbl, and for 2027 to $65/bbl from $79/bbl. The EIA also raised its 2026 U.S. crude

Gate News: According to the latest Gate TradFi data, COFFEE (Coffee) has dropped by 8% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

The Guangdong Futures Exchange announced on July 7 that starting July 9, 2026, trading fees for polysilicon futures (PS contracts) will be adjusted to 0.01% of transaction value, while trading fees for lithium carbonate futures (LC contracts) will be reduced to 0.016% of transaction value.

According to Iran's statement, Iran's Islamic Revolutionary Guard Corps on July 7 intercepted a tanker in waters off Oman in the Strait of Hormuz. Per satellite monitoring data, U.S. military aircraft were providing air coverage in the area at the time of the

Russia's EU mission said on July 7 that EU countries have spent nearly 3 trillion euros to eliminate energy imports from Russia, according to its estimates.

According to TotalEnergies CEO, the company will discuss with Syria today whether to sign a contract following an initial memorandum of understanding. On-site inspections are not yet possible as the Syrian government requires time to establish control over its territory, and deploying teams to

According to sources, a Saudi-flagged oil tanker sustained damage near the Strait of Hormuz, following a separate attack on an LNG vessel in the same region. The incidents mark renewed security concerns in one of the world's most critical energy shipping

According to Jin10, Sinopec Oil Services (01033.HK) subsidiary won the Heihe-Daqing-Changling natural gas pipeline section one contract on July 7, valued at 1.772 billion yuan. The 279-kilometer project is a key segment of the China-Russia Eastern Route gas pipeline extension and falls under China's