Commodities (Crude Oil & Copper) & Macro Outlook

Bitcoin (BTC) rose to around $65,510 on July 21, while tech stocks faced simultaneous pressure. Kobeissi Letter, citing data from Goldman Sachs, said that over the past 8 weeks, hedge funds sold tech stocks in 6 of those weeks, pushing total net selling over the past 8 weeks to at least the highest level in 10 years. An Iranian ballistic missile hit U.S. military residential facilities at the Muwaffaq Salti Airbase in Jordan, killing 2 U.S. personnel. Bitcoin repeatedly holds the $65,000 key thr

Crude oil drove benzene prices higher yesterday, but overnight losses accelerated as expectations of easing Middle East tensions weighed on both crude and benzene futures. Early trading on July 21 is expected to open

According to Shanghai Steel Union data, on July 20, battery-grade lithium carbonate spot prices fell to 152,200 yuan per ton, down 7,200 yuan from early July and 25,000 yuan from early June. Despite strong order demand from downstream lithium battery producers and tight near-term supply amid

IBK Investment & Securities released a report on the 21st analyzing foreign investor selling patterns in Korean stocks, concluding that while short-term oversold conditions suggest a potential rebound by late July, medium to long-term structural risks could trigger renewed selling pressure during an

According to Guru Club, WTI crude oil rose 0.9% to close at $83.23 per barrel on July 21, following significant price volatility driven by U.S. airstrikes on Iran and subsequent ceasefire negotiations. Oil prices initially surged on the military action before retreating on diplomatic developments re

According to Shanghai Securities Report, as of July 20, 28 oil and petrochemical listed companies have disclosed first-half earnings guidance. Among them, 15 companies reported profit growth, while 5 achieved profitability or reduced losses. The gains were driven by Middle East geopolitical

According to Yonhapinfomax, the U.S. dollar strengthened on July 20 as Houthi rebels declared an immediate naval blockade on Saudi Arabia, triggering concerns over disruption to oil shipments through the Red Sea. The dollar index (DXY) rose to 100.952, up 0.223 points or 0.221%. The dollar-yen

According to Xinhua News Agency, a Kuwaiti-flagged oil tanker came under attack near the eastern entrance of the Strait of Hormuz on the evening of July 20. The fuel tank caught fire, producing heavy smoke from the damaged area. Two crew members sustained light injuries. The crew reported being

US Treasury yields rose on the 20th, with the 10-year note climbing 5.60 basis points to 4.5980% as of 3pm Eastern Time, as Yemen's Houthi rebels declared a maritime blockade against Saudi Arabia and UK Prime Minister Andy Burnham stated his government would use "all flexibility" within existing

According to Jayati Bharadwaj, head of foreign exchange strategy at TD Securities, the US dollar is likely to remain near current levels ahead of November midterms, given risks of a full-scale conflict between the US and Iran after the elections. Bharadwaj stated that a complete escalation of

On July 20, spot gold fell 0.22% to $4,008.35 per ounce, trading near the $4,000 psychological level after oscillating between $4,000 and $4,040.52 intraday. COMEX gold futures declined 0.15% to $4,012.80. Spot silver rose 0.90% to $56.42, while COMEX copper futures surged 1.25% to $6.343 per

Steel Dynamics reported net sales of $6.1 billion in the second quarter, exceeding analyst expectations of $5.58 billion. The result reflects a 9.3% beat versus consensus estimates.

On Monday, the Trump administration announced an incentive program allowing companies that build, expand, or renovate aluminum facilities in the United States to import the metal at reduced tariffs. Eligible companies will see aluminum import tariffs reduced from 50% to approximately 25%,

US stocks declined on May 20 (local time) as the S&P 500 fell 0.19% to 7443.28, the Nasdaq dropped 0.05% to 25508.07, and the Dow Jones declined 0.6% to 51839.26, driven by ongoing US-Iran military tensions that caused oil price volatility and investor caution ahead of Big Tech earnings reports

According to E Daily, U.S. stock indexes fell on July 20 amid military tensions between the U.S. and Iran, though declines narrowed after Iran signaled willingness to negotiate. The S&P 500 index closed down 0.19% at 7,443.28, the Nasdaq Composite fell 0.05% to 25,508.07, and the Dow Jones

On Monday, July 20, various U.S. asset class ETFs posted mixed results. Declining assets included the fear index ETF, down 1.60%; U.S. long-duration Treasury ETF, down 0.75%; Russell 2000 ETF, down 0.59%; Dow Jones ETF, down 0.55%; and Real Estate ETF, down 0.54%. Meanwhile, rising assets included

On Monday (July 20) at New York close, CBOT soybean futures rose 1.83% to $12.25 per bushel, while corn futures gained 1.07% and wheat futures fell 1.46%, according to Bloomberg commodity data. The Bloomberg Grains Index advanced 0.57% to 32.0544 points. Soybean meal futures also gained 1.51%, while

Yemen's Presidential Leadership Committee announced it will push to resume oil exports starting Monday, July 21.