Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10's tracking, the U.S. conducted its sixth consecutive night of strikes on Iranian targets on July 17, hitting military bases and infrastructure. Iran's Revolutionary Guards claimed strikes on U.S. positions at bases in Kuwait and Jordan, while the Islamic Revolutionary Guard

According to Xinhua News Agency, Brazil's Foreign Minister Mauro Vieira criticized U.S. Secretary of State Rubio today for attacking President Lula in a "rude and arrogant manner." Vieira stated that the U.S. announcement of 25% tariffs on certain Brazilian products lacks "any valid justification" a

According to EU Copernicus satellite imagery, at least four oil tankers are transporting cargo near UAE's Fujairah port and Oman's Sohar port. These areas serve as major transshipment hubs for vessels transiting the Strait of Hormuz, which then redirect cargo to final destinations. The timing of ves

According to New Mexico State Land Commissioner on July 14, the state regulator rejected Energy Transfer LP's application for natural gas pipeline right-of-way and commercial lease, determining that the project does not serve the state's best

According to Venezuelan officials, Venezuela targets oil production of 1.4 million barrels per day by the end of 2026. The announcement reflects the country's efforts to ramp up energy output amid broader economic

On Thursday, July 16, emerging markets ETF fell 2.10%, while gold ETF and Barclays U.S. convertible bond ETF both dropped 1.98%. U.S. crude oil fund, Nasdaq-100 ETF, and related equity indices declined between 1.64% and 0.54%. Meanwhile, U.S. real estate ETF rose 2.26% and VIX call ETF

Alcoa reported second-quarter sales of $3.97 billion, falling short of analyst expectations of $4.02 billion.

According to Jin10, crude oil futures declined on July 17. WTI crude for August delivery fell 65 cents to $78.95 per barrel, down 0.82%, while London Brent crude for September delivery dropped 72 cents to $84.23 per barrel, down 0.85%.

Spot gold and silver prices fell sharply Thursday ahead of the North American market open, as firmer Treasury yields, a steadier U.S. dollar and renewed Strait of Hormuz risk outweighed support from this week's softer inflation data. At the time of writing, spot gold was trading near $3,975 an

According to EPA data released Thursday, the U.S. generated 1.28 billion ethanol blending credits (D6 category) in June, up from 1.26 billion in May. Biodiesel blending credits (D4 category) rose to 839 million from 736 million month-over-month. Refiners and importers use these credits to

International oil prices declined today amid escalating U.S.–Iran military tensions over the Strait of Hormuz. Brent crude for September delivery closed at $84.23 per barrel on ICE Futures, down 0.9% from the previous session. WTI crude for August delivery fell to $78.95 per barrel on the New York

According to ICE data, New York cocoa futures fell 7.51% to $5,441 per ton during Thursday's close, while London cocoa futures dropped 8.81%. ICE raw sugar futures declined 2.96%, and ICE coffee "C" futures fell 3.92% alongside robusta coffee at 2.74%

According to sources familiar with the plans, Andy Burnham will assume office on Monday as UK Prime Minister and intends to announce new North Sea oil and natural gas drilling operations, along with bringing Thames Water into public ownership. The policies, which Burnham's team has asked civil

According to Bloomberg commodity data, CBOT corn futures fell 1.28% to $4.6350 per bushel on Thursday, July 16, as the Bloomberg commodity index declined 0.77% to 31.5539. Other CBOT contracts also posted losses: wheat futures dropped 0.48% to $6.7425/bu, soybean futures fell 0.67% to $11.9375/bu,

According to Jin10, three explosions were heard west of Abbas Port, Iran on July 16, local time.

Shanghai Futures Exchange commodities fell during overnight trading on July 16. Crude oil futures (September 2026 contract) closed down 0.46% at 514.40 yuan per barrel. Gold futures fell 1.34%, while silver futures

According to Bloomberg News, Chevron plans to sign agreements with Iraq on Friday (July 15) to advance investments in major oil fields and explore building a pipeline to help Iraqi oil bypass the Strait of Hormuz. A company executive stated Thursday that the accords are expected to be non-binding bu

According to BHP's production report, the mining giant's Western Australian operations achieved record iron ore production of 291.2 million tonnes on a 100% equity basis in FY2026, up 0.4% year-over-year from 290 million tonnes in FY2025. Average realized prices rose 3% to $84.56 per wet tonne in th

According to Yonhapinfomax, on July 16, Abdul Malik al-Houthi, the leader of Yemen's Iran-backed Houthi rebels, warned that all Saudi oil facilities and critical infrastructure would become targets for Houthi missiles and drones if Saudi Arabia continues full-scale military attacks on Yemen. Al-Hout