Commodities (Crude Oil & Copper) & Macro Outlook

According to Baker Hughes data, the total number of active oil drilling rigs in the United States for the week ending October 16 fell to 459, down from 462 in the previous week.

According to two sources, Russia's Ryazan refinery suffered a major equipment shutdown following a drone strike on October 15. One of the facility's primary production units has ceased operations.

In US Stock Market News on Friday, August 28, 2026 at 4:14 PM EDT (1:44 AM IST Saturday), the S&P 500 fell 0.25% to close at 7,711.76, while Federal Reserve Chairman Kevin Warsh highlighted ongoing inflation concerns at Jackson Hole. The Nasdaq Composite declined 0.52% to 26,402.42, and the Dow

WTI crude oil surged 2.5% intraday on October 16, reaching $100.42 per barrel and breaking through the $100 psychological level. Brent crude rose 3.0% in the same period, trading at $109.1 per barrel.

According to Gate data, Brent crude oil (XBRUSD) surged above $110 per barrel today, trading at $110.06 per barrel, up 1.4% in the past 24 hours.

According to Jin10, on October 17, U.S. House Foreign Affairs Committee Democrats introduced a bipartisan bill, the "Prohibiting Corrupt Russian Oil Transactions Act," aimed at revoking Russian energy trading permissions. The legislation would prohibit the U.S. International Development Finance

According to Jin10, on October 17, Canadian oil sands producers faced a widening price discount of $26 per barrel compared to U.S. competitors. The price differential expanded due to multiple factors: the overthrow of Venezuelan President Maduro in January intensified competition from Venezuelan

According to Politico, on Oct 17, Scotland's government is preparing to abandon its opposition stance to new oil and gas field development.

According to Iran's Navy, an oil tanker caught fire in a restricted area east of the Strait of Hormuz on October 16. The Iranian military emphasized that uncontrolled navigation in the prohibited zone is unsafe and poses risks to other vessels. Ship attacks in the strait have increased in

According to Jin10, Barclays maintained its Brent crude oil price forecast for 2026 and 2027 at $100 per barrel and $85 per barrel, respectively.

Two reports this week showed that energy shocks are beginning to ripple through the U.S. economy, with companies passing rising costs downstream. In September, airfares, shipping, and freight service prices surged significantly, driven primarily by geopolitical tensions pushing up oil prices.

According to Guru Club, on October 16, U.S. lawmakers proposed legislation aimed at blocking the Trump administration from negotiating diesel trade agreements with Russia.

On Friday (October 16), ICE UK natural gas futures rose 1.99% to 217.90 pence/therm, gaining 7.57% for the week. TTF benchmark Dutch natural gas futures climbed 2.12% to 87.725 euros/MWh, up 9.37% weekly, with both contracts rallying on October 12–13 before consolidating higher through mid-week.

According to the U.S. Department of Labor, import prices rose 1.1% month-over-month in September, exceeding market expectations of 0.8% increase. The prior month saw a 0.5% gain. Fuel and lubricant imports surged 4.8%, with crude oil prices up 4.6% and natural gas imports rising 1.6%. Non-fuel impor

WTI crude oil gained 6.5% during the week ending October 16, driven by an 8.6 million barrel decline in US commercial crude inventories. The inventory draw, reported by the Energy Information Administration, reflected production disruptions in the Gulf of Mexico caused by Hurricane Isaias. Brent cru

Crude oil prices weakened during intraday trading on October 16, declining 3.24% to 699.6 yuan per barrel. Trading volume reached approximately 30.904 billion yuan, with open interest increasing by nearly 1,700 contracts despite the price

US Stock Market News shows that the American economy faces mounting pressure as geopolitical conflicts escalate in the Middle East and Ukraine. On October 15, 2026, yields on US 10-year and 30-year Treasurys climbed to levels not seen since the early 2000s, while gasoline and diesel prices soared to

CBOT wheat futures declined 1.0% during intraday trading on October 16, settling at 697.42 cents per bushel.

According to Jin10, the US September CPI beat market expectations on October 16, putting pressure on the commodities market. The weaker-than-expected demand outlook amid higher prices is expected to keep zinc prices trading sideways at elevated levels in the near

The U.S. will provide up to 17 million barrels of crude oil from its Strategic Petroleum Reserve (SPR), with deliveries scheduled from November 2026 through January 2027.