Commodities (Crude Oil & Copper) & Macro Outlook

The US oil rig count held steady at 433 for the week of June 19, unchanged from the previous week.

The U.S. natural gas rig count stands at 122 for the week of June 19, up from 121 in the prior week.

The U.S. oil and gas rig count rose to 563 for the week ending June 19, up from 562 in the prior week, according to weekly industry data.

According to Odaily, U.S. President Trump on June 18 denied claims that the United States paid $300 billion to Iran, calling such reports fake news. Trump stated that the U.S. has achieved success, low oil prices, and victory, citing stock market performance as

On June 19, Trump denied on Truth Social that the U.S. paid $3 billion to Iran, calling the claim fake news. Trump stated the country is experiencing success, low oil prices, and market gains, referencing the stock market

Wells Fargo raised its year-end S&P 500 price target to 7,950, citing falling inflation, declining oil prices, and an AI-driven technology rally as key drivers of the forecast.

Federal Reserve Chair Kevin Warsh held his first policy meeting on Wednesday, keeping rates unchanged while signaling the possibility of further hikes later this year. The move marks a shift in central bank stance globally; markets have recalibrated expectations from anticipating two to three Fed ra

According to reports on June 18, Kuwait Petroleum Corporation announced it will lift all force majeure declarations immediately. The move signals a return to normal operations for Kuwaiti oil production and

According to Bloomberg, Kuwait will increase oil production to 2 million barrels per day within one week.

Bank of America forecasts that Brent crude oil will average $70 per barrel in 2027.

According to Bloomberg, following a temporary U.S.-Iran peace accord, four supertankers carrying approximately 8 million barrels of oil have exited or transited the Strait of Hormuz on Thursday, marking one of the busiest days in the waterway since the conflict began. Among the vessels is the

According to Bank of America, the full reopening of the Strait of Hormuz could push Brent crude oil prices to $82 per barrel in 2026. The bank expects prices to fluctuate in the $70-80 per barrel range for most of the second half of 2026.

India's crude oil imports reached 21.6 million tons in May 2026, up 1.1 percent from the same period last year, according to trade data.

Following the U.S.-Iran ceasefire agreement, European natural gas futures prices dropped 4.6% on June 18, hitting their lowest level in two months. The decline reflects market optimism that energy shipments through the Strait of Hormuz will resume quickly. This week, natural gas prices have fallen m

According to OPEC, on June 18, non-OPEC crude oil supply is expected to stabilize at around 60 million barrels per day by the mid-2030s. The organization also projects that global refining capacity will increase by 19.3 million barrels per day by 2050.

Canada's Raw Materials Price Index declined 0.7% month-over-month in May, falling short of the 1.1% forecast and down from the previous month's 2.6% gain.

According to Futures Daily, on June 17, Jiangxi Department of Natural Resources approved land pre-assessment and site selection for the Xiangxiawan lithium mine project spanning Yifeng and Fengxin counties. The approval represents the first procedural milestone in the project lifecycle, preceding fo

According to Statistics Canada, Canada's Industrial Product Price Index rose 1.2% month-over-month in May, beating the expected 1% and declining from 2% in April.

Canada's raw materials price index rose 33.4% year-over-year in May, up from 31.6% in the previous month, according to official data.

Canada's Industrial Product Price Index (IPPI) declined to 1.2% month-over-month in May, below the expected 1.8% and down from 2.0% in April, according to Statistics Canada data.