Commodities (Crude Oil & Copper) & Macro Outlook

According to Iran's state media on June 16, Iran's Foreign Minister Abbas Araghchi announced that Iran will divide negotiations with the U.S. into two phases. The first phase will address ending hostilities, reopening the Strait of Hormuz, unfreezing Iranian frozen assets, and post-war

According to Bloomberg, Qatar will resume 50 percent of its liquefied natural gas production one month after the Hormuz Strait reopens. The country will restore 80 percent of LNG output within two months.

According to President Zelenskyy, Ukrainian forces conducted strikes on an oil refinery in Moscow. The statement marks the latest claim of Ukrainian military operations targeting Russian energy infrastructure.

According to Guru Club, China's commodity futures markets closed mostly lower on June 16, with polysilicon leading declines at over 7%, followed by methanol and propylene down over 5%, and polypropylene, ethylene glycol, asphalt and PET down over 4%. Lithium carbonate and plastic fell nearly 3%,

On June 16, China-focused commodity ETFs and commodity funds saw mixed trading at close. Jianxin Energy and Chemical Futures ETF declined over 2%, while Dacheng Non-ferrous Metals Futures ETF and Guotou Ruiyuan Silver Futures (LOF) fell over 1%. Huaxia Feed Soybean Meal Futures ETF posted a slight d

According to Jin10, Barclays Bank maintained its forecast for Brent crude oil to average $100 per barrel in 2026.

According to Citigroup and Goldman Sachs, major oil market participants downwardly revised crude price forecasts on June 16 following the U.S.-Iran agreement on the Strait of Hormuz. Citigroup lowered its Q3 and Q4 2026 Brent forecasts to $75 and $70 per barrel respectively, while Goldman Sachs

According to Rick Rieder, BlackRock's global head of fixed income, $8 trillion to $9 trillion in cash held in money market funds is accelerating into risk assets following a U.S.-Iran peace arrangement on June 16. Rieder warned the capital reallocation could have an "explosive" effect on markets. U

According to BlockBeats, on June 16, Japan's Mitsui O.S.K. Lines (MOL), the world's largest tanker operator, said it will not rush to resume normal transit through the Hormuz Strait despite the preliminary U.S.-Iran agreement to reopen the waterway. MOL will await confirmation that the accord

According to Lyon's research report cited by Jin10 on June 16, the brokerage predicts global oil prices will remain above $80 per barrel in the second half of 2026, down from an average of $94 in H1 2026, citing production facility damage and infrastructure bottlenecks that will prevent supply

Gold rallied above $4,350 an ounce at the start of the week, gaining more than 3% in early North American trading as spot prices reached $4,351. The surge followed news that the U.S. and Iran will sign a peace deal on Friday, ending months of Middle East conflict. Oil prices dropped below $80 a

According to Kpler analysts on Monday, June 15, the Strait of Hormuz could gradually resume transit within a month if the U.S.-Iran peace agreement is successfully implemented. The analysts outlined a three-phase recovery plan: first, 118 oil tankers currently trapped in the Persian Gulf will

According to sources, Japan Petroleum Exploration Co., Ltd. shut down one production line at its Ichthys LNG facility in Australia due to a workers' strike.

According to CME data from June 15, silver and Brent crude oil led commodity markets with increases in both trading volume and open interest. Silver trading volume rose by 2,113 contracts to 62,919 hands, while open interest increased by 717 contracts to 108,192 hands. Brent crude oil volume

According to CoinDesk, Bitcoin bounced below $66,000 on June 16, a day after the U.S.-Iran ceasefire agreement was signed, while equities surged. The S&P 500 rose 1.7% and Nasdaq 100 gained 3.1%, while Brent crude dropped below $83. Bitcoin's gains remained limited compared to broader market

According to the Bruegel Institute, a European think tank, global oil market supply-demand imbalance will persist through 2027, even if the Strait of Hormuz reopens in the short term, according to a research report released on

After U.S. President Trump arrived in France on Monday (June 15 local time) to attend the G7 summit, he said that the agreement has all been signed. Vice President JD Vance will attend a formal signing ceremony in Geneva on Friday (June 19), and disclosed in a CNN interview that the agreement documents are about one and a half pages long and include a “substantial sanctions relief package for Iran”; U.S. officials confirmed that the relevant details will be released within two days. The agreemen

According to Morgan Stanley analysts on June 15, the firm slashed its Brent crude price forecast for the third quarter to $90 per barrel from $100 per barrel, citing a U.S.-Iran temporary agreement to reopen the Strait of Hormuz that is expected to boost regional oil production. The fourth-quarter f

According to Wang Guanhua, deputy director of China's National Bureau of Statistics, midstream and downstream enterprises are facing phase-related cost pressures. Wang stated at a State Council press conference on June 16 that while enterprises are taking measures to offset pressure through

Goldman Sachs recently cut its average Brent crude oil price forecast for 2027 to $75 per barrel, down from a previous estimate of $80.