Commodities (Crude Oil & Copper) & Macro Outlook

President Trump stated that the U.S. maintains complete control over the Strait of Hormuz and exports millions of barrels of oil through the strategic waterway daily, according to his public remarks on

The U.S. Department of Treasury released multiple general licenses for Venezuela on September 2. The Trump administration's permits cover activities related to Venezuelan coal, gold, and mining operations.

The Federal Reserve's latest Beige Book reports that the overall outlook for the coming months is positive, though sentiment varies significantly across industries. Respondents cited greater uncertainty regarding the impact of rising energy prices on economic activity, according to the report.

According to CCTV, on September 2, the United States and Venezuelan governments formally signed a major oil cooperation agreement with Chevron and other companies, securing majority control over 65 billion barrels of Venezuela's

According to the White House, crude oil from Venezuela under the bilateral agreement could begin entering the U.S. Strategic Petroleum Reserve as early as November.

Chevron CEO Mike Wirth on Wednesday cited better economics and stronger legal protections as two key factors behind the decision to invest more than $7 billion to expand operations in Venezuela. The oil company announced updated agreements covering its Venezuelan joint ventures, with plans to more t

According to Eni CEO Claudio Descalzi, the energy company will begin its first oil drilling operation in Venezuela starting tomorrow (September 3).

According to ChainCatcher, Ondo Finance submitted comment letters to the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) on August 24, urging regulators to bring stock-linked perpetual contracts under existing securities and futures frameworks without re

Chevron shares rose approximately 0.6% to $212.72 today (September 2), on track for a new closing high. The energy company announced a $7 billion investment to double its oil production capacity in Venezuela.

According to traders, November-delivery Russian ESPO blend crude oil has risen to a premium of $7 to $10 per barrel above ICE Brent crude, reflecting a wider spread in the export market.

According to Jin10 data, as of the week ending August 28, U.S. crude oil exports reached their highest level since June 19, 2026, while domestic crude oil production hit its highest mark since November 7, 2025. The country's EIA strategic petroleum reserve inventory fell to its lowest level since N

U.S. crude oil imports fell to negative 595,000 barrels per day for the week ended August 28, according to the Energy Information Administration, down from 275,000 barrels per day in the previous week.

According to the U.S. Energy Information Administration (EIA), crude oil implied demand rose to 21.268 million barrels per day in the week ended August 28, up from 19.987 million barrels per day in the prior week, an increase of approximately 1.281 million barrels per day.

According to the U.S. Energy Information Administration (EIA), American crude oil production increased to 103,000 barrels per day for the week ended August 28, up from negative 2,000 barrels per day in the prior week.

According to the U.S. Energy Information Administration (EIA), gasoline production for the week ending August 28 declined to 9.8573 million barrels per day from 9.9323 million barrels per day in the prior week, down 75,000 barrels

According to EIA data released for the week ending August 28, U.S. distillate fuel oil production declined to 5.1253 million barrels per day, down from 5.6293 million barrels per day in the previous week.

According to the U.S. Energy Information Administration (EIA), crude oil imports fell by 79,000 barrels for the week ending August 28, compared to a decline of 161,000 barrels the previous week.

U.S. crude oil inventories declined 4.45 million barrels in the week ending August 28, according to EIA data released on September 2. The prior week saw inventories rise by 95,000 barrels.

According to the U.S. Energy Information Administration (EIA), strategic petroleum reserves decreased by 3.122 million barrels for the week ending August 28, compared to a decline of 3.7 million barrels in the previous week.

According to the Energy Information Administration (EIA), U.S. heating oil inventories declined by 33,000 barrels for the week ending August 28, compared with a build of 27,000 barrels in the prior week.