Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10 Futures, China's asphalt prices rose to 4,535.57 yuan/ton this week (May 29), up 0.86 yuan/ton or 0.02% week-over-week. The modest gain was driven by tightening supply as asphalt production capacity utilization rates declined, coupled with stable demand from infrastructure

According to Japan's Ministry of Economy, Trade and Industry, Japan's total petroleum product sales in April declined 11.3% year-over-year.

According to Japan's Ministry of Economy, Trade and Industry, the country's crude oil imports declined 65.7% year-on-year in April, marking a significant decrease amid shifting energy dynamics.

According to Japan's Ministry of Economy, Trade and Industry, gasoline sales in April declined 2.6% compared to the same period last year.

According to Japan's Ministry of Economy, Trade and Industry, kerosene sales in April declined 13.3% compared to the same period last year.

According to CCTV Finance, on May 29, a leading global copper processor disclosed that orders for high-voltage electromagnetic flat wire products for electric vehicles are booked through the second half of 2027. The company's annual copper purchases, combining virgin and recycled copper, total

According to ExxonMobil executive Neil Chapman, oil inventories will reach critically low levels within the next two to three weeks due to Middle East tensions, forcing crude prices to surge sharply. Speaking at a Bernstein conference, Chapman stated that once inventories hit that threshold, prices

According to BlockBeats, trade.xyz contract open interest hit $27.4 billion on May 29, setting a new historical record. According to loris.tools data, the top five holdings on the platform are S&P 500, XZY100, Brent crude oil, Micron, and

According to Guru Club, on May 29, shipping futures on the Europe route main contract surged nearly 5% to breach the 3,500-point mark, marking the highest level since August 2024. Open interest increased by more than 2,600 contracts during the

According to Shanghai Steelindex, MMLC battery-grade lithium carbonate rose to 176,400 Chinese yuan per ton today, up 600 yuan per ton from yesterday's 4:30 PM closing price.

Fidelity’s 2026 trend report says that Iran accepted Bitcoin, dollar-pegged stablecoins, and RMB payments for transit fees through the Strait of Hormuz in April, signaling a major shift toward alternative settlement mechanisms. The report also notes that gold’s share in central bank reserves has surpassed dollar assets, and that Bitcoin’s expected excess returns have not yet been realized; additionally, after the U.S. froze stablecoins, USDT continued to dominate payments.

Fidelity Digital Assets released a report on January 28 analyzing Iran's Bitcoin-based Hormuz Safe system as evidence that Bitcoin is entering international settlement and reserve asset discussions. Iran announced on January 18 the introduction of the Hormuz Safe system for managing passage

According to PANews, Intercontinental Exchange (ICE) founder and CEO Jeff Sprecher said on May 29 that he has met with the Hyperliquid team multiple times to discuss overlapping business areas and potential collaboration opportunities. Sprecher highlighted Hyperliquid's weekend oil

According to Jin10, South Korea's government will reduce mandatory private oil reserves from 40 days to 20 days starting May 29, releasing approximately 20 days' worth of supply into the market. The move, announced by Industry Minister Liang Jixiong, aims to fulfill commitments made to the

According to Jin10 Futures, WTI crude oil futures fell 0.65% and U.S. natural gas futures rose 0.40% as of 09:30 Beijing time on May 29.

WTI crude and Brent crude each fell over 1% intraday on May 29, trading at $90.13 per barrel and $91.47 per barrel respectively.

According to Costco CEO Ron Vachris, the warehouse retailer recorded record-high gasoline sales during the final five weeks of its third fiscal quarter ended May 10. Vachris attributed the surge to rising fuel prices and geopolitical tensions in the Middle East, which drove consumers to seek

On Thursday (May 28), spot gold rose 0.95% to $4,496.21 per ounce, trading between $4,366.74 and $4,516.60 during New York's close. Spot silver gained 1.37% to $75.66 per ounce. COMEX copper futures climbed 1.25% to $6.42 per pound. Spot platinum declined 0.27% and palladium

According to Goldman Sachs calculations released recently, global crude oil inventories could fall below 100 days of global demand as early as the end of May. As of late April, inventories stood at approximately 101 days of demand, with projections showing a decline to 98 days by end of May.

According to Bloomberg, the Bloomberg Commodity Index gained 0.46% to 31.6386 points at New York close on May 28. CBOT corn futures rose 0.83%, while CBOT soybeans climbed 0.89%, reaching a daily high of $11.96 per bushel. CBOT soybean meal futures gained 0.97% and soybean oil futures