Commodities (Crude Oil & Copper) & Macro Outlook

According to Bloomberg, on September 2, Coinbase co-founder Fred Ehrsam is seeking to acquire control of at least three oilfields in Venezuela's Orinoco Belt as the U.S. government reshapes the country's oil industry. The oilfields—Boca, Guico, and Guara blocks—are currently operated by Alvorada

According to Spain's Strategic Oil Stock Company, motor fuel consumption in the country increased 0.8% year-over-year and rose 2.1% month-over-month in July.

According to Iran's Revolutionary Guards, two tankers were targeted by sea mines in the Strait of Hormuz on September 2 and have halted their voyage.

According to Reuters, Brent crude climbed to $95.68 a barrel on September 2 as renewed US-Iran strikes escalated risks in the Strait of Hormuz, gaining more than $7 from Friday's settlement of $88.10. The rise fueled inflation expectations and global government-bond selling, with the US 10-year

According to the Wall Street Journal, Trump on Tuesday urged oil executives at a White House meeting to construct additional refineries capable of producing fuel, though the industry faces significant economic barriers to doing so. Building new refineries requires investments of billions of

According to sources familiar with the matter, India's Oil and Natural Gas Corporation (ONGC) subsidiary OVL has dispatched a 12-member team to Venezuela on September 2 to conduct a week-long inspection of oil and gas assets. This marks OVL's first visit to Venezuela in years. OVL received U.S.

Italy's producer price index (PPI) year-over-year rate reached 9.3% in July, rising from the previous month's 6.80%.

According to BlockBeats, WTI crude oil futures on Hyperliquid rebounded to $90.8 on September 2 from a low of $74.2 on August 5, representing a cumulative gain of approximately 22.4%. The contract reached an intraday high of $92.19.

According to Jin10 Futures, as of September 2, warehouse receipt data for Dalian Commodity Exchange chemical futures contracts showed: polyethylene futures fell 10 contracts to 4,263 hand; polyvinyl chloride futures dropped 52 contracts to 119,742 hand; polypropylene futures declined 515 contracts t

According to Jin10 Futures and FOIZ data, refined oil total inventory at the UAE Fujairah Port rose 0.53 million barrels to 6.412 million barrels for the week ending Aug 31. Light distillates inventory increased 0.308M bbl to 1.549M bbl, while middle distillates rose 0.277M bbl to 1.741M bbl.

According to Jin10 Futures, on Sept 2 midday, energy, shipping, and chemical futures advanced while precious metals, coal, and base metals retreated in China's commodity futures market.

According to Jin10 Futures, on September 2, Shanghai Futures Exchange energy and chemical products inventory data showed mixed movements: Pulp futures warehouse inventory increased to 393,249 metric tons, up 5,910 MT from the previous trading day, while fuel oil futures inventory declined to 71,890

On September 1, Iranian Parliament Speaker Mohammad Baqer Kalib aff stated that the Strait of Hormuz remains under full Iranian military control, and Iran will not allow any vessels to transit through the southern passage if the United States attempts to violate the Iran-U.S. memorandum of

According to Kim Hyo-jin, Shin Young Securities analyst who appeared on YouTube show SamProTV on September 1, U.S. 10-year Treasury yields have exceeded 4.8%, approaching the 5% level amid Middle East tensions and rising oil prices near $90 per barrel. Under the Taylor Rule, which calculates

According to IFX, Russia has suspended its grain export tariffs through December 31, 2026. The move affects exports of wheat, barley, corn, and other grain products.

According to Guru Club, WTI crude oil futures fell 0.01% to $90.215 per barrel today (September 2), while Brent crude oil futures rose 0.31% to $94.939 per barrel.

According to SHFE, on Sept 2, major futures contract inventories showed mixed daily movements. Aluminum inventories declined 4,184 tonnes to 234,189 tonnes, while zinc fell 2,815 tonnes to 95,744 tonnes. Silver inventories increased 15,170 kilograms to 1,422,622 kilograms. Other notable changes

Korean stock markets plunged on the 2nd as US-Iran military tensions escalated sharply. The KOSPI closed down 273.08 points or 3.99% at 6,562.72, while the KOSDAQ fell 17.27 points or 2.10% to 803.98. The sell-off was driven by US airstrikes on Iranian Revolutionary Guard Corps military facilities a

The USD-JPY exchange rate traded at 160.160 yen as of 1:44 PM Tokyo time on September 2nd, up 0.01% from the previous session, remaining in strong consolidation territory despite inflation concerns triggered by rising oil prices. BOJ board member Takada Hajime's hawkish remarks on flexible rate

The European Central Bank (ECB) published a blog report on September 1 (local time) stating that the recent inflation surge differs fundamentally from the 2021-2022 pandemic period, as it stems almost entirely from energy supply shocks triggered by Middle East conflict rather than the multiple