Commodities (Crude Oil & Copper) & Macro Outlook

US Stock Market News on Friday, Aug. 28 saw major indexes decline after Federal Reserve Chairman Kevin Warsh delivered a closely watched speech at Jackson Hole, Wyoming, emphasizing the central bank's commitment to fighting inflation. The S&P 500 fell 0.25% to close at 7,711.76, the Nasdaq

According to Russian satellite agency TASS, on October 18, Russian Deputy Prime Minister Alexander Novak warned that oil prices would surge further if disruptions in the Strait of Hormuz persist. Speaking at Russia's Energy Week, Novak noted that supplies through the strait have not yet recovered, a

US Stock Market News showed the Dow Jones Industrial Average tumbled 374.09 points, or 0.7%, after the U.S. struck two rocket launchers on Iran's Larak Island on Sunday, the first publicly acknowledged U.S. strike on Iranian positions since late July (4:00 PM

According to Jin10 Data, Iranian armed forces fired on and intercepted a vessel attempting to transit the Strait of Hormuz on October 17 at 18:15 local time. The incident occurred near the Sirik region.

According to Fox News, U.S. Central Command spokesman Navy Captain Tim Hawkins stated this week that the vast majority of Iran's attempts to attack vessels in the Strait of Hormuz have failed, and the critical waterway remains open for maritime transit. Approximately 97% of ships attempting to

According to Yonhapinfomax, on October 17, Bank of Canada Governor Tiff Macklem signaled that while rising oil prices are supporting economic growth, the central bank may need to raise its policy rate if inflation pressures spread widely. Macklem noted that amid ongoing Middle East tensions and

According to Iran's Islamic Revolutionary Guard Corps (IRGC), on October 17 (local time), two supertankers collided with mines in the Strait of Hormuz. The second vessel experienced a major explosion in its engine room, the IRGC stated, and was carrying over 2 million barrels of crude oil. The IRGC

Bank of Canada Governor Tiff Macklem noted recently that elevated oil prices have supported Canadian investment. However, he warned that rising oil prices increase the risk of broader inflation across the

According to Iran's Islamic Revolutionary Guard Corps Navy, a second supertanker struck a mine in the Strait of Hormuz on October 17 and exploded in flames, carrying over 2 million barrels of crude oil. The vessel had shut down all navigation and radar systems while attempting to transit the

Pyth Network announced an expansion of its ETF and equity market coverage today, enhancing access to global markets through its official Twitter account. The expansion adds Korean equities with extended-hours access, new 24/7 cryptocurrency feeds, and additional indices across equities and

According to Iran's Revolutionary Guards, on October 16, a tanker struck a mine in waters near Hormuz Island. The incident marks another reported mining incident in the strategically critical waterway.

According to Trading Economics, spot gold closed near $4,166 an ounce on Friday, October 16, with December COMEX futures settling around $4,186.70 (Investing.com). Despite oil reaching $109.86—its highest since May—gold edged lower as rising energy prices lifted the US 10-year Treasury yield to 5.11

According to Reuters, Brent crude settled at $109.86 a barrel on Friday 16 October, up 3.7 percent on the day and 4.9 percent on the week. It was the highest settlement since 19 May, and the contract briefly touched $110 for the first time since May. Friday's surge was triggered by a Saudi-led

According to UK Maritime Trade Operations Office, two oil tankers were attacked near Saudi Arabian port of Jubail on October 16-17, with all crew members confirmed safe. The first incident occurred on October 16 at 9:00 UTC (17:00 Beijing time), approximately 68 nautical miles northeast of Jubail, w

According to Guru Club, Brent crude oil broke through $106 in over-the-counter trading on October 17, gaining over 4% intraday.

Donald Trump waived sanctions from the Lindsey O. Graham Russia-Iran Sanctions Act on the 16th (local time), exempting tariffs and restrictions he signed into law last month. The White House notified Congress the decision serves US national interest but provided no explanation for how waiving the sa

According to Xinhua, International Maritime Organization Secretary-General Arsenio Dominguez said on October 16 that security conditions in the Hormuz Strait and surrounding waters continue to deteriorate, with shipping risks remaining elevated. Dominguez emphasized that shipping should not be

According to Guru Club, copper futures fell below $6.6 today (October 17), declining 0.5% intraday.

President Donald Trump waived Russia-related sanctions and tariffs authorized under the Lindsey O. Graham Sanctioning Russia and Iran Act on Oct. 16, invoking national interest authority granted by the law. The waiver, issued via executive order, came less than a month after Trump signed the Graham

On Oct. 16, President Trump issued an executive order waiving Russia-related sanctions and tariffs authorized under the recently enacted Graham Act, signed into law on Sept. 18. The waiver comes roughly a week after an administration diesel deal with Russia. The Graham Act allows the president to w