Commodities (Crude Oil & Copper) & Macro Outlook

Al Arabiya, an Arab TV station, received a draft Iran-US understanding memorandum (MOU) document on June 16, showing that the framework agreement to be signed this Friday will include 14 core clauses, covering areas such as a ceasefire, navigation through the Strait of Hormuz, the nuclear issue, lifting sanctions, the release of frozen assets, and economic reconstruction. Overview of the 14-clause Classification of the Draft Iran-U.S. Understanding Memorandum: Core Commitments According to the d

LPG futures contracts fell 300 yuan intraday today to 4,899 yuan per ton, representing a 5.77% decline.

According to Bloomberg and Kpler on June 17, four Iranian oil tankers activated their transponders and exited the Strait of Hormuz and Gulf of Oman, including two supertankers with individual capacity of 2 million barrels each, signaling a potential lifting of U.S. maritime restrictions.

According to Goldman Sachs on June 17, the bank maintains its TTF natural gas price forecasts for the second half of 2026 and 2027, adjusting the 2026 forecast to 41 EUR/MWh from its prior estimate of 42 EUR/MWh, while keeping the 2027 forecast at 30 EUR/MWh.

According to JPMorgan Chase, the firm upgraded its year-end 2026 target for the MSCI Emerging Markets Index to 2,000 points from 1,575 points, representing a 27% increase and implying approximately 13% upside from Tuesday's close. The bank cited the reopening of the Strait of Hormuz as supportive fo

According to Gate's latest data, silver prices rose to $70.173 per ounce, up 0.71% intraday on June 17. Gold prices climbed to $4,337.19 per ounce, up 0.22%. Bitcoin volatility index (BVIX) fell 3.23% to 38.71, while Ethereum volatility index (EVIX) dropped 4.39% to 54.5. USD/CNH declined 0.03% to 6

Bitcoin (BTC) rebound momentum is weak, falling back to around $65,590 on June 17. Michael Selig, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), said that perpetual contracts will be assessed asset by asset, rather than approved under a blanket authorization. Illinois became the first U.S. state to impose a tax on digital asset transactions, expected to take effect on January 1, 2027. Macro Events & Crypto Hotspots 1、According to Cryptopolitan, Michael Selig, Chairman of the U

Low Sulfur Fuel Oil (LU) futures main contract fell 4.00% intraday today, currently trading at 3,916 yuan per ton.

According to Japan's Ministry of Finance, the country's crude oil imports fell 57.3% year-over-year in May, while liquefied natural gas imports declined 15.1% to 3.96 million tons over the same period.

According to reports, CBOT soybean futures rose 1% at Tuesday's (June 16) close as spot market sources indicated buyers were seeking offers for U.S. soybean shipments due late 2026 to early 2027. However, gains were limited by improved U.S. soybean crop conditions and declining crude oil prices.

According to a G7 statement issued on June 17, the group announced it will strengthen sanctions against Russia's oil and gas sector and increase weapons deliveries to Ukraine, including air defense systems, interception equipment, and long-range strike capabilities. The G7 also said it is prepared t

According to Jin10 Futures, CBOT soybean oil futures closed down 1.8% on Tuesday, with the benchmark contract trading between 67.84 and 69.63 cents. The decline was driven by a sharp drop in crude oil following a preliminary peace agreement between the U.S. and Iran. Soybean oil, a key feedstock

According to SinoInfo, China's corrugated containerboard prices have risen to 2,961 yuan per ton as of June 16, up 11.23% from the mid-April low of 2,659 yuan per ton. The rebound is driven by tightening supply of waste paper and sustained high export demand. Listed companies in the sector have

According to U.S. intelligence assessment reported by BlockBeats on June 17, Iran still possesses the capability to close the Strait of Hormuz. U.S. intelligence officials noted that Iran has retained missiles, drones, fast attack craft, and mine-laying capabilities that could disrupt global

According to Tanker Trackers, on June 15, at least two supertanker vessels of Iran's National Tanker Company exited the U.S. naval blockade, carrying 3.8 million barrels of crude oil in total, marking Iran's first crude oil export in two months. The maritime intelligence company verified the

According to Guru Club, on June 17, the Dow Jones created a new record high, while the Nasdaq fell over 1% as tech stocks retreated. Japan's central bank raised its policy rate to 1%, the highest level since 1995, driving the Nikkei index to another all-time high with year-to-date gains of 37.87%.

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