Commodities (Crude Oil & Copper) & Macro Outlook

According to Iraq's Deputy Oil Minister for upstream affairs, on Sunday, Iraq plans to gradually restore crude oil production to between 4.2 and 4.3 million barrels per day. The proposed increase would return output to pre-Iran war and Hormuz Strait closure

According to the latest U.S. Commodity Futures Trading Commission data as of June 21, hedge funds and major speculators' net long positions in Brent crude have fallen to a six-month low, declining nearly 75% since late March. The shift reflects a broader market reversal from concerns over supply

According to Guru Club, on June 21, Iran's deputy oil minister stated that Iraq plans to gradually resume crude oil production to 4.2-4.3 million barrels per day (mbpd), restoring output to pre-U.S.-Iran conflict

According to Jin10, on June 21, bearish oil options positions regained focus as crude futures prices declined sharply following a U.S.-Iran peace agreement. More than 20,000 cash-settled put option contracts on WTI crude, representing approximately 2 million barrels per month, which had been

Libya's National Oil Corporation announced crude oil production reached 1.44 million barrels per day, marking the highest output level since 2013.

According to Fox News, President Trump warned Iran during a late-night phone call on June 20 not to close the Strait of Hormuz, stating that the country would "cease to exist" if it did so. Trump said the U.S. could serve as a "guardian angel" of the strategic waterway and potentially seize 20% of i

According to Jin10, U.S. Vice President Vance stated today (June 21) that the U.S. has opened the Strait of Hormuz and expects further measures. President Trump is committed to achieving a comprehensive regional

According to Iran's Tasnim news agency on June 21, a source close to Iran's negotiation team stated that if Israel continues military operations in Lebanon and Lebanon's territorial integrity is not guaranteed, Iran will not engage in negotiations with the United States, and the Hormuz Strait will n

According to Saudi media reports including Hadath and Arab Satellite Television, Pakistan's foreign minister stated that Iran will not block ships from passing through the Strait of Hormuz over the next 60 days, and no transit fees will be

According to Iran's Tasnim news agency, on June 20, Iran's military announced the closure of the Strait of Hormuz. Maritime navigation data shows no vessels have transited the strategic waterway since the announcement, with traffic volumes dropping to

According to Iran's Fars News Agency, the Strait of Hormuz remained closed on June 21, with Iran's navy refusing passage to any vessel without explicit authorization. The Iranian Foreign Ministry confirmed that four-way talks between Iran, the U.S., Qatar, and Pakistan were scheduled to take place l

According to Deutsche Bank's research division on June 20, artificial intelligence-driven demand for high-bandwidth memory (HBM) is creating an unprecedented semiconductor shortage that threatens broader macroeconomic stability. The bank warned that memory chips have evolved from traditional

According to Guru Club, Iran's Oil Minister Paknejad stated on June 21 that following the conclusion of an agreement, Iran's oil industry will become the world's largest platform for investment opportunities, technology, and financial

According to MarketWatch, President Trump signed a US-Iran memorandum of understanding on June 17 that includes an immediate ceasefire, reopening of Strait of Hormuz oil transport, lifting of US maritime blockade on Iran, and a 60-day nuclear negotiation window. As geopolitical tensions ease and

Iran's central bank chief expressed hope to reach an agreement with the United States in coming days. The official stated that by restoring oil exports and resuming resource flows, better conditions would be created for

According to Russian regional authorities, Ukrainian drones attacked an oil terminal in Russia's Krasnodar Krai on June 21, triggering a fire. The same Ukrainian drone operation also targeted a passenger ferry, resulting in one

According to Trump's post on Truth Social, during a 60-day ceasefire period, the Strait of Hormuz will remain toll-free. After the 60-day grace period ends, the U.S. may impose transit fees if no agreement is reached between the two nations. A

According to CNN, Iran's Revolutionary Guard Navy warned vessels to stay away from the Strait of Hormuz on the morning of June 21, following Iran's announcement of closure of the waterway. The warnings were broadcast via radio and direct contact with ships in the region. Vessels attempting to