Commodities (Crude Oil & Copper) & Macro Outlook

According to Spain's Petroleum Products Strategic Reserve Company, Spain's crude oil imports in May reached 5.2 million tonnes, up 8.2% year-on-year.

According to Zhangyuan Tungsten, the company reduced its long-term purchasing prices for tungsten products in the first half of July 2026. Prices for 55% black tungsten concentrate dropped to 448,000 yuan per metric ton, while 55% white tungsten concentrate fell to 447,000 yuan per metric ton.

Ukraine's Security Service said it struck Russian energy infrastructure, including an oil terminal at the Baltic port of Visotsk and a refinery in Russia's Kaluga region, according to a statement released

Gate News: According to the latest Gate TradFi data, COCOA (Cocoa) has surged by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market activity.

Israel's energy minister announced that the natural gas tender process will be divided into three phases, with completion expected within 12 months.

According to Jin10 Futures, international crude oil prices plunged on July 6 following a ceasefire agreement between the U.S. and Iran. Market participants released substantial crude supplies in response to the agreement, triggering concerns about oversupply and driving prices back to levels seen be

WTI crude oil declined over 1% intraday on July 6, trading at $68.40 per barrel.

According to an announcement on July 6, Korea National Oil Corporation successfully imported 970,000 barrels of crude oil shipped from UAE's Fujairah port in early June and delivered it to GS Caltex. The company also received 575,000 barrels produced by Canada's Harvest Oil, which was shipped from

According to Goldman Sachs, the investment bank lowered its Q4 2026 LME aluminum price forecast to $2,950 per ton and cut its 2027 average price target to $2,700 per ton today. The bank also reduced its 2026 aluminum supply-demand deficit forecast to 100,000 tons while raising its projected 2027

According to Shanghai Futures Exchange (SHFE), on July 6, pulp warehouse inventories rose to 286,167 tons, up 7,474 tons from the previous trading day, while petroleum bitumen factory inventories declined 2,000 tons to 15,970 tons. Other energy and chemical products remained

The Capesize Container Shipping Index (Europe route) main contract fell 5.00% intraday on July 6, currently trading at 2,525.5 points.

According to Reuters, three Japanese firms are considering purchasing Iranian crude oil on July 6, marking the first such move since 2019, following a temporary U.S. sanctions waiver. Japanese and Iranian officials are reportedly conducting initial negotiations regarding the possibility of crude oil

According to Jin10, OPEC+ decided to increase oil production by 188,000 barrels per day in August. The decision comes as supply dynamics shift across major producing regions, with Iraq reporting June crude exports of approximately 24.5 million barrels and Brazil exporting 8.48 million tons of crude

According to CoinDesk, on July 6, veteran trader Peter Brandt stated he is considering selling part of his Bitcoin holdings and buying gold, expecting the ratio of gold to Bitcoin to rise significantly. Brandt cited a chart pattern suggesting the downtrend of gold relative to Bitcoin over the past d

According to Nomura Securities' latest research, as cited by Serenity on July 6, upstream photonic material prices for AI optical interconnects are expected to rise significantly due to supply-demand imbalance. InP (indium phosphide) substrates are projected to see price increases of 42%-76% for 2-i

Energy Secretary Sharon Garin announced on July 6 permitted fuel price adjustments for the week of July 7 to 13, with diesel increasing P1.57 to P3.57 per liter, kerosene rising P1.70 to P3.70 per liter, and gasoline ranging from a decrease of P1.75 per liter to an increase of up to 25 centavos per

According to Energy Secretary Sharon Garin, fuel prices in the Philippines will increase starting July 7, with diesel rising by P1.57 to P3.57 per liter and kerosene by P1.70 to P3.70 per liter. Gasoline could decrease by up to P1.75 per liter or increase by up to P0.25 per liter. The adjustment

Regional authorities reported that infrastructure at Russia's Ust-Luga and Vysotsk oil port facilities sustained damage following a drone strike. Local governor statements confirmed the incidents at both strategic Black Sea and Baltic petroleum

ADNOC announced today that ADNOC TRADING will continue to serve as the trading counterparty for trading activities, with existing client engagement arrangements remaining unchanged.