Commodities (Crude Oil & Copper) & Macro Outlook

According to Iran's Supreme Leader Advisor Muhbir, attacks on Ahvaz and Shahir on July 16 are part of the same operation targeting civilians, linked to an earlier attack on a school in Minab. Muhbir warned that strikes on Iran's infrastructure could disrupt energy supply across the region and pose s

IEA chief Fatih Birol warned over the coming weeks of growing energy security concerns if oil and natural gas flows through the Strait of Hormuz do not improve.

According to the Philadelphia Federal Reserve, the regional manufacturing activity index jumped 31.1 points to 41.4 on July 16, far exceeding analyst expectations of 13.0 and hitting its highest level since April 2021. Meanwhile, the U.S. Labor Department reported that weekly jobless insurance

According to Yonhapinfomax, oil prices declined on July 16 (U.S. Eastern Time) as negotiations between the U.S. and Iran continued despite Tehran's threat to blockade the Red Sea. August WTI crude fell 0.82% to $78.95 per barrel, while September Brent crude dropped 0.85% to $84.23 per barrel on the

According to Jin10's tracking, the U.S. conducted its sixth consecutive night of strikes on Iranian targets on July 17, hitting military bases and infrastructure. Iran's Revolutionary Guards claimed strikes on U.S. positions at bases in Kuwait and Jordan, while the Islamic Revolutionary Guard

According to Xinhua News Agency, Brazil's Foreign Minister Mauro Vieira criticized U.S. Secretary of State Rubio today for attacking President Lula in a "rude and arrogant manner." Vieira stated that the U.S. announcement of 25% tariffs on certain Brazilian products lacks "any valid justification" a

According to EU Copernicus satellite imagery, at least four oil tankers are transporting cargo near UAE's Fujairah port and Oman's Sohar port. These areas serve as major transshipment hubs for vessels transiting the Strait of Hormuz, which then redirect cargo to final destinations. The timing of ves

According to New Mexico State Land Commissioner on July 14, the state regulator rejected Energy Transfer LP's application for natural gas pipeline right-of-way and commercial lease, determining that the project does not serve the state's best

According to Venezuelan officials, Venezuela targets oil production of 1.4 million barrels per day by the end of 2026. The announcement reflects the country's efforts to ramp up energy output amid broader economic

On Thursday, July 16, emerging markets ETF fell 2.10%, while gold ETF and Barclays U.S. convertible bond ETF both dropped 1.98%. U.S. crude oil fund, Nasdaq-100 ETF, and related equity indices declined between 1.64% and 0.54%. Meanwhile, U.S. real estate ETF rose 2.26% and VIX call ETF

White House Press Secretary Caroline Leavitt stated on the 16th (local time) that Iran continues dialogue with the United States and has expressed willingness to reach an agreement. Leavitt made these remarks during a press briefing when asked whether US-Iran negotiations were at a standstill,

Alcoa reported second-quarter sales of $3.97 billion, falling short of analyst expectations of $4.02 billion.

According to Jin10, crude oil futures declined on July 17. WTI crude for August delivery fell 65 cents to $78.95 per barrel, down 0.82%, while London Brent crude for September delivery dropped 72 cents to $84.23 per barrel, down 0.85%.

Spot gold and silver prices fell sharply Thursday ahead of the North American market open, as firmer Treasury yields, a steadier U.S. dollar and renewed Strait of Hormuz risk outweighed support from this week's softer inflation data. At the time of writing, spot gold was trading near $3,975 an

According to EPA data released Thursday, the U.S. generated 1.28 billion ethanol blending credits (D6 category) in June, up from 1.26 billion in May. Biodiesel blending credits (D4 category) rose to 839 million from 736 million month-over-month. Refiners and importers use these credits to

International oil prices declined today amid escalating U.S.–Iran military tensions over the Strait of Hormuz. Brent crude for September delivery closed at $84.23 per barrel on ICE Futures, down 0.9% from the previous session. WTI crude for August delivery fell to $78.95 per barrel on the New York

According to ICE data, New York cocoa futures fell 7.51% to $5,441 per ton during Thursday's close, while London cocoa futures dropped 8.81%. ICE raw sugar futures declined 2.96%, and ICE coffee "C" futures fell 3.92% alongside robusta coffee at 2.74%

According to sources familiar with the plans, Andy Burnham will assume office on Monday as UK Prime Minister and intends to announce new North Sea oil and natural gas drilling operations, along with bringing Thames Water into public ownership. The policies, which Burnham's team has asked civil

According to Bloomberg commodity data, CBOT corn futures fell 1.28% to $4.6350 per bushel on Thursday, July 16, as the Bloomberg commodity index declined 0.77% to 31.5539. Other CBOT contracts also posted losses: wheat futures dropped 0.48% to $6.7425/bu, soybean futures fell 0.67% to $11.9375/bu,

According to Jin10, three explosions were heard west of Abbas Port, Iran on July 16, local time.