Commodities (Crude Oil & Copper) & Macro Outlook

According to financial data provider Jin10, ethylene glycol (EG2610) futures hit the daily limit on September 2, closing at 5,809 yuan per ton, up 5.98% (328 points). Open interest surged 45,800 contracts to 379,700 total, reflecting strong buying momentum. The rally was driven by U.S.-Iran

According to Jin10 data on September 2, Norway's southern hydropower reservoir levels dropped to historic lows of 15.6 TWh, below the previous record of 15.7 TWh set in 1996. As one of Europe's largest electricity exporters, Norway's hydropower system typically provides crucial flexibility to

A spokesperson for Germany's Economy Ministry said on Wednesday that while current natural gas storage levels are tighter than in previous years, there is no risk of a shortage during the winter season.

According to market reports on September 2, China's organic silicone industry confirmed a 50% production cut for September, matching August's reduction pace, with major single-product plants planning a 200 yuan per ton price increase on September 7. Indonesia's largest nickel industrial park, the

U.S. Energy Secretary Wright reported on Monday that oil flow through the Strait of Hormuz exceeded 17 million barrels.

According to U.S. Energy Secretary Wright, Venezuela's daily oil production is projected to exceed 1.5 million barrels by the first half of 2027 under a new U.S.-supervised framework. The structure will enforce Venezuelan legal and contract protections, with Betancourt

According to ADM, the agricultural commodities group's facility in Odesa, Ukraine was impacted by a drone attack on August 31.

According to sources, Chevron, KEO Capital, Italian oil company Eni, and Primavera will soon sign energy agreements in Venezuela.

According to Gate data, Brent crude oil (XBRUSD) is currently trading at $95.73 per barrel, with a 24-hour gain of 2.1%.

According to Ebury strategy head Matthew Ryan on September 2, headline inflation in the eurozone rose to 3.3% in August amid rising natural gas prices and escalating US-Iran tensions, making an ECB rate hike in September increasingly certain. Core inflation, however, fell to 2.4% in August

According to Saudi statements, Iran attacked the Saudi Sidr tanker in the Strait of Hormuz on September 2.

WTI crude and Brent crude each declined over 1% intraday today (September 2), with WTI trading at $88.48 per barrel and Brent at $93.44 per barrel.

Brent crude fell 0.5% during intraday trading on September 2, settling at $94.16 per barrel.

According to TASS, Russian Deputy Prime Minister Novak recently stated that Russian oil companies are taking all necessary measures to increase oil production as much as possible.

According to two sources, Russia's Kirishy refinery suspended oil processing on August 30 following a Ukrainian drone strike.

According to Bloomberg, Chevron reached an agreement with its Venezuelan joint venture partner to develop two oil fields in the Orinoco Belt, with over $7 billion in planned investment over five years.

According to Foshan Gold Control Futures report, the U.S. military attacked Iranian airports and coastal facilities including the strategic port of Assaluyeh on September 2. Iran claimed it retaliated by striking U.S. forces in Jordan with heavy missiles, causing casualties. The escalation has

Korean treasury yields rose across all maturities on September 2, driven by surging international oil prices and broad-based global interest rate increases. The 3-year treasury yield climbed 5.2 basis points to 3.930%, marking the highest level since July 24. Foreign investors intensified selling pr

UK and European government bonds extended losses on Wednesday as energy prices climbed, with UK 10-year gilt yields rising 6 basis points to their highest level since August 2007. German 10-year Bund yields increased 5 basis points to 3.39%, while European natural gas prices surged to their 2026 hig

According to Jin10, on Wednesday morning, September 2, European forward-year power contracts surged to a 43-month high, tracking a surge in natural gas prices following overnight U.S. and Iranian airstrikes. France's forward-year baseload electricity contract rose 6.2% to €78.25 per megawatt-hour, m