Commodities (Crude Oil & Copper) & Macro Outlook

The three major US stock indices fell for the second consecutive day on the 17th (US Eastern Time), driven by concerns over Chinese AI company Moonshot's new model. The Dow Jones Industrial Average closed at 52,146.42, down 406.55 points (0.77%). The S&P 500 fell 76.08 points (1.01%) to 7,457.69,

According to Yonhapinfomax, U.S. stock indices closed lower for the second consecutive day on July 17. The Dow Jones Industrial Average fell 406.55 points (0.77%) to 52,146.42, the S&P 500 declined 76.08 points (1.01%) to 7,457.69, and the Nasdaq Composite dropped 361.70 points (1.40%) to 25,520.24.

The USD-KRW exchange rate climbed 10.90 won to 1,491.30 won in overnight trading as of 2:07 AM on the 18th, compared to the previous session's Seoul daytime close of 1,480.40 won. The surge was driven by escalating US-Iran tensions and a sharp rise in international oil prices, which triggered risk-a

According to the U.S. Commodity Futures Trading Commission (CFTC), for the week ending July 14, speculators increased net short positions in CBOT 10-year Treasury futures by 17,413 contracts to 831,675 contracts. Speculators reduced net short positions in CBOT 2-year Treasury futures by 103,531 cont

According to the U.S. Commodity Futures Trading Commission, speculators in NYMEX and ICE natural gas markets turned to a net short position of 50,296 contracts for the week ended July 14, down 57,662 contracts from the prior week.

According to the U.S. Commodity Futures Trading Commission (CFTC), speculators increased their net long positions in NYMEX WTI crude oil by 11,704 contracts during the week of July 14, bringing the total to 86,383 contracts.

According to Edaily, on July 17, the United States and Iran continued reciprocal retaliatory strikes for a sixth consecutive day, with attacks expanding from military targets to critical infrastructure including ports, bridges, and power facilities. The U.S. Central Command destroyed surveillance to

According to Jin10, oil futures recorded two-digit gains this week as of July 18, driven by escalating Middle East tensions. The U.S. expanded military strikes on Iranian targets, while Iran launched attacks on neighboring Gulf states. Additionally, Houthi forces in Yemen pose a potential threat to

According to Bloomberg, on Friday (July 17), CBOT wheat futures rose 7.12% for the week to $6.8475/bushel. CBOT soybean oil futures climbed 5.06% over the same period. Corn futures gained 1.57% to $4.6825/bushel, while soybean futures edged up 0.90% to $12.0250/bushel.

According to Jin10, as of the overnight close on July 18 at 2:30, Shanghai gold futures rose 0.67% to 878 yuan per gram, Shanghai silver futures advanced 1.05% to 13,729 yuan per kilogram, and SC crude oil futures surged 5.23% to 543 yuan per

From 17:00 to 18:00 UTC on July 17, 2026, the BTC price steadily rose from around 63,593.0 USDT, peaking at 64,139.5 USDT before ultimately closing near the 64,000 integer level. It recorded a 0.58% short-term rebound, with an Ampl of 0.86%. Despite the bounce, the overall price swing remained limited, and market sentiment was heavy with waiting. The main driver of this move was the macro tug-of-war between the sharply escalating Iran–U.S. geopolitical conflict and hawkish remarks from U.S. Fede

According to ICE, speculators' net long positions in Brent crude oil increased by 114,752 contracts to 169,839 contracts for the week ending July 14, marking a five-week high. Net long positions in white sugar reached 58,847 contracts, the highest level since October 2011 when data began being

According to Tasnim News Agency, Iran's basket crude oil price has surpassed $80 per barrel.

On July 17, 2026, from 17:00 to 17:15 UTC, BTC saw a modest short-term uptick, with a Return % of +0.58%. The price ranged from 63,593.0 to 64,139.5 USDT, with an Ampl of 0.86%. Over the past 24 hours, BTC traded in a narrow range, with a 24h move of only -0.48%. The current price is around $63,987. The market is waiting for a clearer directional catalyst, and trading sentiment is leaning toward caution. The main driver behind this move is a macro hedging narrative battle fueled by the continued

According to a statement from ConocoPhillips on July 17, the company agreed to acquire a 42% stake in BP's Kirkuk oil field in Iraq, a major project supporting the conflict-hit nation's energy recovery. The transaction encompasses over 3 billion barrels of oil equivalent with additional

U.S. total oil rig count rose to 588 in the week ending July 17, 2026, up 7 from 581 in the prior week.

U.S. oil drilling rigs totaled 452 for the week ending July 17, up from 445 in the prior week, according to weekly data.

The U.S. natural gas rig count remained at 126 for the week ended July 17, unchanged from the prior week.

The U.S. oil rig count for the week ending July 17 is scheduled to be announced within the next ten minutes.