Commodities (Crude Oil & Copper) & Macro Outlook

According to API data, U.S. crude oil production declined 17,000 barrels per day in the week through June 12, compared to an increase of 262,000 barrels per day in the previous week.

According to American Petroleum Institute (API) data, U.S. crude oil stockpiles declined by 461,000 barrels for the week ending June 12, more than double the expected drawdown of 198,000 barrels. The prior week had seen stockpiles increase by 1.316 million barrels.

According to API data, U.S. crude oil inventories declined by 8.33 million barrels for the week ending June 12, compared to market expectations of a 4.515 million barrel decrease and the prior week's decline of 9.119 million barrels.

According to API data, U.S. crude oil imports fell by 276,000 barrels for the week ending June 12, compared with a decline of 358,000 barrels in the prior week.

U.S. Cushing crude oil inventory fell 1.52 million barrels for the week ended June 12, according to API data. The decline compares to a decrease of 1.125 million barrels in the prior week, marking a steeper

According to API, U.S. heating oil inventories decreased by 125,000 barrels for the week ending June 12, compared to a prior week decline of 407,000 barrels.

Bitcoin fell to an intraday low of $65,301 on Tuesday despite a U.S.-Iran memorandum of understanding lifting traditional markets. The cryptocurrency declined approximately 1.4% in value, dragging its market capitalization down to $1.32 trillion and triggering $81 million in derivatives

U.S. API crude oil inventories for the week ending June 12 will be released in approximately 10 minutes.

On June 16, U.S.-listed ETFs tracking major asset classes posted divergent results. Agricultural commodity funds led gains with a 1.06% increase, while soybean-focused funds rose 0.83%. Dow Jones ETF, long-duration U.S. Treasury ETF, and gold ETF each climbed up to 0.55%. Risk assets and energy

According to Jin10 data, on June 16, crude oil futures declined sharply. WTI crude for July delivery fell $4.70 to $76.05 per barrel, down 5.82%, while Brent crude for August delivery dropped $4.21 to $78.96 per barrel, down 5.06%.

According to Serbia's state television, NIS, a Russian-owned Serbian oil company under U.S. sanctions, had its sanctions waiver extended until July 1.

On Tuesday (June 16), CBOT soybean futures rose 0.95% to $11.4550 per bushel, Arabica coffee futures climbed 5.74%, and New York cocoa futures jumped 6.55% to $4,232 per ton, according to Bloomberg. Robusta coffee futures advanced 2.04%, while London cocoa futures gained 6.31%. The Bloomberg

Shanghai Futures Exchange crude oil 2608 contract closed down 3.93% at 508.90 yuan per barrel in the night session. Shanghai gold fell 0.06% while Shanghai silver declined 0.07%.

The Bank of Japan raised its benchmark interest rate to around 1% in a 7-1 vote on Tuesday, with the new guideline effective June 17. The quarter-point move lifted Japan's rate to its highest level in over three decades, last reached in 1995. Policymakers cited rising domestic inflation driven by hi

Ukrainian drones struck Russia's Kapotnya Oil Refinery located 10 miles from the Kremlin, according to statements from Ukrainian President Volodymyr Zelenskyy and Moscow Mayor Sergei Sobyanin. Zelenskyy described the strike as a 'just response to Russian strikes and to the dragging out of a war

According to Moscow Mayor Sergei Sobyanin, Ukrainian drones struck Russia's Kapotnya Oil Refinery on June 16, located 10 miles from the Kremlin. The facility supplies approximately 70% of Moscow's oil demand. The Mayor confirmed the refinery was damaged but reported no casualties. Russia claimed at

U.S. natural gas futures surged over 3% intraday on June 16, now trading at $3.242 per million BTU.

According to Guru Club, on June 16, the Baltic Dry Index fell to 2670 points, down 50 points or 1.8%, pressured by weakness in Capesize and Panamax vessels. The Capesize Index declined 142 points to 3911, dropping 3.5%, with daily profits falling $1,285 to $31,968. The Panamax Index fell 25 points t

According to Bitget, WTI crude oil fell below $76 per barrel on June 16, marking a new low since March 5, with intraday losses of 6.63%.

According to Fonterra, on June 16, the Global Dairy Trade (GDT) price index declined 2.8%, with whole milk powder contracts averaging $3,979 per tonne at auction. Wholesale milk powder prices also fell 3.1% to $3,589 per tonne.