Commodities (Crude Oil & Copper) & Macro Outlook

According to U.S. messaging on June 16, Qatar Energy, which operates Qatar's largest liquefied natural gas facility, has informed its customers of plans to restore production capacity to 50% of pre-disruption levels within one month after the Strait of Hormuz reopens, and to 80% within two

According to S&P Global Energy's latest research, expanding biofuel demand is a "powerful catalyst" to restore farm profitability as rising crop yields fuel persistent supply surpluses amid stalled market demand. The research found that technological improvements continue to boost agricultural

Bitcoin rose 1.9% this week as May consumer inflation hit 4.2% year over year and risks from the Iran conflict eased, according to crypto market maker Wintermute. The CPI reading marked the third consecutive monthly acceleration and the highest level since 2023, though it matched expectations. Winte

According to MarketWatch, the U.S. and Iran are set to sign a peace framework agreement on Friday (June 19), with the full text to be disclosed ahead of the signing, according to Vice President Vance. President Trump has indicated he may hold a press conference to explain the agreement

The Dow Jones index hit a record high on Tuesday, gaining 0.6% to close at 51,999.67, while the S&P 500 slipped 0.1% to 7,548.60 and the Nasdaq 100 dropped 1.9% to 29,968.13. The divergence came as cooling oil prices pushed industrial and materials stocks higher and eased inflation concerns ahead

The Dow Jones hit a record high of 51,999.67 on Tuesday, gaining 0.6%, driven by industrial and bank stocks as oil prices extended their decline to below $80 per barrel—the first time since March. The S&P 500 fell 0.1% to 7,548.60, while the Nasdaq 100 dropped 1.9% to 29,968.13 amid weakness in

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