Commodities (Crude Oil & Copper) & Macro Outlook

On May 1, the Nasdaq Composite and S&P 500 reached new highs for the second consecutive day. The Nasdaq Composite rose 0.89% to close at 25,114.44 points, while the S&P 500 gained 0.29% to 7,230.12 points. The Dow Jones Industrial Average declined 0.31% to 49,499.27 points. Crude oil prices fell sha

Marex has completed its acquisition of Geneva-based fixed income market maker Valcourt, a deal first announced in October 2025. The transaction adds approximately 700 clients to Marex's platform, including banks, asset managers, and independent wealth managers, with significant concentration in

According to BlockBeats, on May 1, Trump announced he will raise tariffs on EU automobiles and trucks imported to the United States to 25% starting next week, citing the European Union's failure to comply with agreed trade terms. Trump stated that EU-produced vehicles manufactured in U.S.

Ethereum exchange-traded funds posted $184 million in outflows over four consecutive days through April 30, according to market data, as geopolitical uncertainty offset gains in U.S. equities. The outflows extended a losing streak that began earlier in the week, with the largest single-day exit

Iran notifies Gulf countries of its position on ending the war; oil prices plunge sharply, Bitcoin and gold jump in the short term, and U.S. stocks set fresh highs again. This article provides an in-depth breakdown of how geopolitical risk mitigation mechanisms transmit across different asset classes.

According to the UK Royal Navy, on May 1, shipping traffic through the Strait of Hormuz has plummeted following military operations by the United States and Israel against Iran. Daily vessel transits have dropped from approximately 130 ships before the conflict to fewer than 10, representing a

Axios: Iran, via Pakistan, mediated and formally responded to the revised U.S.-side draft peace agreement; the oil market quickly weakened, with New York futures crude oil falling nearly 2% to $103.27 and Brent around $110.23. This comes as the War Powers Resolution’s 60-day deadline expires, echoing Trump’s claim that the war is already over. The key focus afterward will be Iran’s response, the threshold for congressional approval, and Trump’s position; if tensions cool, a pullback in oil prices could affect inflation expectations and the U.S. Federal Reserve’s policy.

According to ChainCatcher, intraday on May 1, Brent crude rose approximately 4% to around $108 per barrel as the U.S. Dollar Index (DXY) weakened 0.35%. Meanwhile, spot silver surged 4% to $76.67 per ounce, according to Gate's market

Gemini received approval for a Derivatives Clearing Organization (DCO) license from the Commodity Futures Trading Commission (CFTC) on Thursday, allowing its Olympus unit to handle settlements and manage risk on its Titan platform, which covers futures, options, and prediction markets. The DCO licen

Bitcoin rose to $77,000 on May 1 after holding its $75,000 support level. However, negative funding rates, unchanged open interest, and cautious trader positioning signal a lack of conviction in the upside move, keeping BTC range-bound.

Exxon and Chevron released their 2026 Q1 earnings reports. Adjusted EPS beat expectations, but YoY profits fell by roughly 45% and 36%, respectively. The main driver was war-related timing mismatches that resulted in about $4 billion and $2.9 billion in losses, along with production also down about 6%, affected by shipping through the Strait of Hormuz and the UAE’s exit from OPEC. Looking ahead to Q2, hedging unwind/replenishment, transportation recovery, and Middle East supply changes will be key.

According to ChainCatcher, Federal Reserve official Hamak said broad inflation pressures currently exist, with energy price increases being a key driver of overall price levels.

UAE Formally Withdraws from OPEC The United Arab Emirates formally withdrew from the Organization of the Petroleum Exporting Countries (OPEC) and the OPEC+ mechanism on May 1, according to CCTV News. The decision ends the UAE's nearly 60-year membership in the organization and marks the

According to Xinhua, Singapore Prime Minister Lawrence Wong warned on May 1 that Middle East tensions could intensify global supply chain disruptions over the coming months, putting some economies at recession risk. Wong noted that even if the Strait of Hormuz resumes operations, the crisis should n

Goldman Sachs has raised its oil price forecast due to expected supply disruptions in the Middle East, according to a Bloomberg interview with Daan Struyven, the bank's co-head of global commodities research. Struyven stated that the bank does not anticipate an abrupt end to global oil supply disrup

According to Financial Times, on May 1, Donald Trump Jr. and Eric Trump merged their shell company with a Kazakhstan critical minerals group that received $1.6 billion in U.S. government support. The tungsten mining project involves deposits in northern Kazakhstan's Katpar and Upper Kairakty

The Trump administration claims that the April ceasefire ended the war with Iran, pausing the authorization clock for 60 days, and that before the May 1 deadline it can be exempt from congressional authorization. Experts say the text contains no “pause-the-clock” mechanism, and the dispute remains; Collins and other Republicans also voted in favor, showing that this interpretation faces challenges. If a court or Congress accepts it, future presidents may be able to use a ceasefire to end hostilities and evade authorization. Oil prices remain elevated, the Japanese yen is strengthening, and geopolitical risks in the Middle East have not been resolved.

According to Reuters and Axios, on May 1, the Hormuz Strait blockade entered its third month amid escalating U.S.-Iran tensions. Iranian Revolutionary Guards officials warned that any new U.S. military strikes, regardless of scale, would trigger "long and painful" attacks on American military