Commodities (Crude Oil & Copper) & Macro Outlook

According to Guru Club, WTI crude broke through $98 per barrel on October 16, gaining 3.08% intraday.

According to Iran's Navy statement on October 15, the military's monitoring team discovered a tanker on fire in the eastern Strait of Hormuz. The Navy said the vessel had disabled its tracking system and attempted to pass through a restricted area. Iran's Navy claimed it maintains "complete

According to the U.S. Energy Information Administration (EIA), distillate fuel output rose to 5.695 million barrels per day (bpd) for the week ending October 9, up from 5.414 million bpd in the prior week, marking an increase of 281,000 bpd.

For the week ending October 9, U.S. EIA crude oil implied demand declined to 20.95 million barrels per day, down from 21.274 million barrels per day in the previous week.

According to EIA data, U.S. gasoline refinery output for the week ending Oct. 9 fell to 9.1991 million barrels per day from 9.5996 million barrels per day in the prior week, a decline of 0.4005 million barrels per day.

According to the U.S. Energy Information Administration, the Strategic Petroleum Reserve inventory remained flat for the week ending October 9, at zero barrels change, compared to a decline of 784,000 barrels in the previous week.

According to the U.S. Energy Information Administration (EIA) weekly report for the week ending October 9, commercial crude oil inventories (excluding Strategic Petroleum Reserve) declined by 85.57 million barrels to 416 million barrels, representing a 2.02% drop. In the same period, U.S. crude oil

According to the U.S. Energy Information Administration (EIA), refinery utilization for the week ended October 9 reached 93.5%, exceeding the forecast of 92.2% and higher than the previous week's 92.7%.

According to the U.S. Energy Information Administration, refinery oil inventories declined by 2.527 million barrels in the week ending October 9, compared to a decrease of 42,000 barrels in the prior week.

According to EIA data, U.S. oil refinery equipment utilization rose 0.8% for the week ended October 9, compared to an increase of 0.2% in the prior week.

According to the U.S. Energy Information Administration (EIA), U.S. refinery crude oil production declined by 101,000 barrels per day (BPD) in the week ended October 9, down from the previous week's increase of 287,000 BPD.

According to the Energy Information Administration (EIA), U.S. crude oil inventories declined by 8.557 million barrels for the week ended October 9, significantly exceeding the forecast decline of 0.288 million barrels. The previous week saw inventories drop by 3.186 million barrels.

U.S. EIA gasoline inventories increased 3.518 million barrels for the week ending October 9, compared to a prior week change of 0.382 million barrels.

According to EIA data released for the week ending October 9, U.S. refinery oil inventories declined by 25.27 million barrels, beating the forecasted decline of 15.6 million barrels and significantly outpacing the prior week's drop of 0.42 million barrels.

According to the U.S. Energy Information Administration (EIA), Cushing crude oil inventory rose 1.862 million barrels in the week of October 9, compared to an increase of 0.444 million barrels in the previous week.

According to EIA data, U.S. crude oil imports declined 596,000 barrels in the week ended October 9, compared to the previous week's decline of 53,000 barrels.

According to the U.S. Energy Information Administration (EIA), reformulated gasoline stocks increased by 0.6 million barrels in the week ended October 9, compared to a decline of 0.1 million barrels in the previous week.

According to the Energy Information Administration (EIA), U.S. gasoline production for the week ended October 9 remained unchanged at minus 117,000 barrels per day, consistent with the prior week's figure.

According to the U.S. Energy Information Administration (EIA), American crude oil production for the week ended October 9 fell to 135,000 barrels per day from 223,000 barrels per day in the prior week.

According to EIA data, U.S. heating oil inventories fell 448,000 barrels in the week ending October 9, compared to an increase of 668,000 barrels in the previous week.