Commodities (Crude Oil & Copper) & Macro Outlook

Fuel oil futures contracts declined over 2% during intraday trading on September 3, reaching 3,890 yuan per ton.

On September 3 at market open, China's commodity futures contracts showed mixed trading. Container shipping European routes (集运欧线) fell 4%, while coke and coking coal declined over 2%. Low-sulfur fuel oil (LU), caustic soda, fuel oil, and polysilicon retreated over 1%. On the upside, palladium

US Special Envoy Steve Witkoff met with UAE National Security Advisor Tahnoon bin Zayed Al Nahyan (TBZ) last weekend on the Mediterranean island of Sardinia to discuss next steps for resolving the Iran crisis, Axios reported on the 2nd (local time) citing two sources. The meeting occurred days

According to Jin10 Futures and Jinlian Creative, on September 3, crude oil reference price averaged $90.06 per barrel with a 2.68 percent rate of change, prompting a recommended increase of 140 yuan per ton for domestic gasoline and diesel retail prices. The next pricing adjustment window is

According to Jin10 Futures, on September 3, South China's LPG market continued its uptrend, with refineries maintaining low supply and inventory while multiple terminals restricted or halted sales, creating supply tightness. The rally was further supported by escalating U.S.-Iran tensions, which st

South Korea's Vice Finance Minister Heo Jang chaired an emergency economic meeting on September 3rd at the Government Complex-Seoul, warning that uncertainty surrounding the Middle East war and potential resumption of military conflict between the US and Iran continues to persist. Heo emphasized the

According to Jin10 Futures, during early trading on September 3, former U.S. President Trump stated his administration is prepared to launch another attack on Iran, asserting complete control over the Strait of Hormuz. International crude oil prices edged higher following the remarks, with market pa

Stocks and bonds declined simultaneously since late last month, reversing their typical inverse relationship. KOSPI fell 3.8% while the 10-year Korean treasury yield rose 0.1 percentage point during this period. The simultaneous drop stems from rising oil prices, central bank monetary tightening, an

According to Baichuanyingfu data, China's argon prices surged to 2,459 yuan/ton as of September 2, jumping over 240% from 720 yuan/ton in early May. The price acceleration occurred primarily during July and August, with some regions posting significant daily

According to Chosun Ilbo, stocks and bonds fell simultaneously on September 2, with South Korea's Kospi index down 3.8% since late August and the 10-year Treasury yield hitting 4.818%, the highest level since November 2023. This breaks the traditional inverse relationship between the two assets.

According to Goldman Sachs, Venezuela's crude oil production is forecast to remain constrained by aging infrastructure and power grid instability, with output at 1.1 million barrels per day in July, making it difficult to recover to pre-2018 levels above 2 million barrels daily. The country's crude

According to CNN citing U.S. officials, the U.S. military on Tuesday escorted 40 merchant vessels carrying 18 million barrels of oil through the Strait of Hormuz, marking a wartime record. The operation deployed multiple air, sea, and space assets to counter Iranian attacks on shipping lanes and

NH Investment & Securities forecasted that the US 10-year Treasury yield could break through the 5% level as international oil prices and market interest rates rise following the resumption of armed conflict between the US and Iran. The brokerage published this analysis in a report titled 'US

KOSPI is expected to recover on September 3rd following a 3.99% decline to 6562.72 on September 2nd, supported by bargain hunting and a US market rebound. The anticipated recovery stems from stabilizing US Treasury yields and strong performance in AI-related stocks including NVIDIA. KOSPI200 night f

According to E-Daily, U.S. stocks rebounded on September 2 after three consecutive days of decline, with the Dow Jones gaining 0.56% to 53,061.95, the S&P 500 rising 0.46% to 7,666.60, and the Nasdaq advancing 0.45% to 26,217.83. The 10-year Treasury yield retreated to 4.793% from intraday highs, an

According to NEWSIS, KOSPI-related futures rose 1.40% overnight on September 2-3, 2026, following a 3.99% decline the previous day, as U.S. Treasury yields stabilized and technology stocks rebounded. The S&P 500 index gained 0.46% to 7,666.60, while the Nasdaq Composite advanced 0.45% to 26,217.83,

According to the U.S. Energy Information Administration (EIA), American natural gas inventories increased by 31 billion cubic feet last week as of September 3.

According to Guru Club, WTI crude oil surged to $92.28 on Wednesday, marking its highest level in five weeks, before paring gains to close up 0.88%. Brent crude settled at $95.63, up 1.04%.

According to Treasury Secretary Janet Bessent on Wednesday, Ukraine's drone strikes on Russian energy facilities and petroleum refineries are a primary driver of global energy price increases contributing to elevated U.S. living costs. Speaking on Fox News, Bessent stated the U.S. is experiencing an

On September 2, Venezuela's interim president Rodríguez and U.S. Energy Secretary Wright signed multiple cooperation agreements, including a major oil project accord. According to Trump's announcement, the U.S. obtained majority control over more than 65 billion barrels of Venezuela's proven oil res