Commodities (Crude Oil & Copper) & Macro Outlook

According to CNBC, CME Group announced this week it will sue the Commodity Futures Trading Commission (CFTC) over its approval of prediction market platform Kalshi's Bitcoin perpetual futures contract. CME Chief Executive Terrence Duffy disclosed the filing during a CNBC interview, stating the

According to Bloomberg and CBOT data, on Thursday (June 18) at the New York close, the Bloomberg Commodity Grain Index fell 0.92% to 29.7383. CBOT corn futures declined 1%, wheat futures fell 1.19%, and soybeans dropped 0.63% to $11.42 per bushel. Soybean meal futures fell 0.88% while soybean oil fu

According to Goldman Sachs, the bank raised its Q3 aluminum price forecast to $3,300 per ton from $3,200 and upgraded its 2027 outlook to $2,950 per ton from $2,750. The bank forecasts aluminum supply surplus of 720,000 tons in 2026 and 590,000 tons in 2027.

Bitcoin fell 5% to $62,236 on Thursday, erasing gains initially triggered by rumors and the formal announcement of a U.S.-Iran peace accord. The decline occurred after bitcoin attempted to test $66,000 on Wednesday and represents a 7.5% drop since the cryptocurrency peaked above $67,300 on

Iran's Supreme National Security Council announced on June 18 that traffic through the Strait of Hormuz will gradually increase. The statement came without additional details on timeline or specific measures.

According to Amena Bakr, energy intelligence group reporter, three Saudi super-large tankers (VLCC) carrying approximately 6 million barrels of crude oil have passed through the Strait of Hormuz and reappeared on the Automatic Identification System (AIS) after being absent for over two

U.S. natural gas futures gained 3.00% intraday on June 18, trading at $3.240 per million British thermal units.

Brent crude oil rose over 1% intraday to $79.32 per barrel on June 18. WTI crude oil trading near unchanged.

The US oil rig count held steady at 433 for the week of June 19, unchanged from the previous week.

The U.S. natural gas rig count stands at 122 for the week of June 19, up from 121 in the prior week.

The U.S. oil and gas rig count rose to 563 for the week ending June 19, up from 562 in the prior week, according to weekly industry data.

According to Odaily, U.S. President Trump on June 18 denied claims that the United States paid $300 billion to Iran, calling such reports fake news. Trump stated that the U.S. has achieved success, low oil prices, and victory, citing stock market performance as

On June 19, Trump denied on Truth Social that the U.S. paid $3 billion to Iran, calling the claim fake news. Trump stated the country is experiencing success, low oil prices, and market gains, referencing the stock market

Wells Fargo raised its year-end S&P 500 price target to 7,950, citing falling inflation, declining oil prices, and an AI-driven technology rally as key drivers of the forecast.

Federal Reserve Chair Kevin Warsh held his first policy meeting on Wednesday, keeping rates unchanged while signaling the possibility of further hikes later this year. The move marks a shift in central bank stance globally; markets have recalibrated expectations from anticipating two to three Fed ra

According to reports on June 18, Kuwait Petroleum Corporation announced it will lift all force majeure declarations immediately. The move signals a return to normal operations for Kuwaiti oil production and

According to Bloomberg, Kuwait will increase oil production to 2 million barrels per day within one week.

Bank of America forecasts that Brent crude oil will average $70 per barrel in 2027.