Commodities (Crude Oil & Copper) & Macro Outlook

According to Commerzbank, Brent crude oil prices are expected to decline to approximately $65 per barrel by 2027, a level seen before the recent geopolitical tensions that drove prices higher.

According to Reuters, the U.S. military has overseen dozens of covert ship-to-ship crude oil transfers in the Persian Gulf since early May, using drones, surface vessels, and helicopters to guide tankers to waiting ships. The operations, conducted near the Strait of Hormuz, employ a ship-to-ship tra

According to Kpler analyst Amena Bakr, approximately 118 fully loaded oil tankers carrying roughly 75 million barrels of crude oil are currently stranded in the Persian Gulf. The vessels are awaiting the reopening of the Strait of Hormuz, through which they are expected to transit once the channel b

According to BlockBeats, on June 16, Iran's oil export revenues have remained at or exceeded pre-conflict levels despite months of military escalation following U.S.-Israeli strikes in the region. Despite tensions in the Strait of Hormuz and international sanctions, Iranian oil exports have

According to Jin10 Futures, on June 15, China's gasoline crack spread rebounded to 900.69 yuan/ton, up 151.22 yuan/ton from the previous day, while diesel crack spread rose to 762.05 yuan/ton, gaining 159.04 yuan/ton. The rebound followed a U.S.-Iran agreement to resolve Middle East tensions,

According to RWI, Germany's economic growth forecast for 2026 and 2027 was revised down to 0.8% on June 16, citing energy price surges linked to Iran tensions as a key headwind. The research institute expects consumer price inflation of 3.1% in 2026 and 2.9% in 2027, as rising oil, fuel, and

According to Jin10, the second phase of the Bozhong 26-6 Oilfield development project completed onshore construction of all platforms on June 16, with the final wellhead platform loaded for shipment in Tianjin's Binhai New District. The two newly built wellhead platforms will operate unmanned.

According to Bitget data, Brent crude oil slipped below $81 per barrel today with an intraday decline of 2.31%. WTI crude oil fell below $79 per barrel, down 2.94% during the same period.

The Zhengzhou Commodity Exchange issued a risk alert on June 16 for the Dragon Boat Festival holiday closure period (June 19-21). The exchange cited multiple uncertain factors that could impact commodity price movements during the break and advised member institutions to strengthen risk awareness an

According to Jin10, crude oil prices declined today, June 16. Brent crude fell 2.00% to $81.25 per barrel, while WTI crude dropped 2.46% to $79.39 per barrel.

According to the London Metal Exchange on June 16, nickel inventories increased 942 tons while zinc stockpiles surged 17,400 tons. Copper inventories declined 4,600 tons, aluminum fell 1,500 tons, and lead dropped 1,175 tons. Tin inventories decreased 65 tons.

According to Jin10 Futures, on June 16, Shanghai Futures Exchange energy and chemical futures inventories showed mixed movement. Pulp warehouse stock increased to 242,109 tons, up 5,365 tons from the previous trading day. Pulp factory inventory remained flat at 20,000 tons. Other major contracts, in

According to Iran's state media on June 16, Iran's Foreign Minister Abbas Araghchi announced that Iran will divide negotiations with the U.S. into two phases. The first phase will address ending hostilities, reopening the Strait of Hormuz, unfreezing Iranian frozen assets, and post-war

According to Bloomberg, Qatar will resume 50 percent of its liquefied natural gas production one month after the Hormuz Strait reopens. The country will restore 80 percent of LNG output within two months.

According to President Zelenskyy, Ukrainian forces conducted strikes on an oil refinery in Moscow. The statement marks the latest claim of Ukrainian military operations targeting Russian energy infrastructure.

According to Guru Club, China's commodity futures markets closed mostly lower on June 16, with polysilicon leading declines at over 7%, followed by methanol and propylene down over 5%, and polypropylene, ethylene glycol, asphalt and PET down over 4%. Lithium carbonate and plastic fell nearly 3%,

On June 16, China-focused commodity ETFs and commodity funds saw mixed trading at close. Jianxin Energy and Chemical Futures ETF declined over 2%, while Dacheng Non-ferrous Metals Futures ETF and Guotou Ruiyuan Silver Futures (LOF) fell over 1%. Huaxia Feed Soybean Meal Futures ETF posted a slight d

According to Jin10, Barclays Bank maintained its forecast for Brent crude oil to average $100 per barrel in 2026.

According to Citigroup and Goldman Sachs, major oil market participants downwardly revised crude price forecasts on June 16 following the U.S.-Iran agreement on the Strait of Hormuz. Citigroup lowered its Q3 and Q4 2026 Brent forecasts to $75 and $70 per barrel respectively, while Goldman Sachs

According to Rick Rieder, BlackRock's global head of fixed income, $8 trillion to $9 trillion in cash held in money market funds is accelerating into risk assets following a U.S.-Iran peace arrangement on June 16. Rieder warned the capital reallocation could have an "explosive" effect on markets. U