Commodities (Crude Oil & Copper) & Macro Outlook

According to U.S. Energy Secretary Wright on June 13, American refiners can absorb more Venezuelan crude oil. Venezuela exports approximately 1.2 million barrels daily, with roughly half currently being shipped to the United States. Wright indicated this share could increase over the coming months a

According to the Intercontinental Exchange (ICE), speculators' net long positions in Brent crude fell by 43,609 contracts to 208,891 during the week of June 9, marking a 21-week low.

Baker Hughes reported that U.S. energy companies reduced their drilling rig count for the first time in eight weeks, according to the company's latest data.

In the week of June 12, U.S. total active rigs decreased to 562 from 563 in the prior week.

U.S. natural gas rigs fell to 121 in the week ended June 12, from 124 in the prior week.

According to CME Group on June 11, the derivatives exchange announced plans to introduce 24-hour, seven-day-a-week trading for micro crude oil futures and 1-ounce gold futures contracts. The new micro crude oil contract, sized at one-tenth of the existing Micro WTI contract, will launch on NYMEX on

LME copper futures closed higher by $216 today, settling at $13,698 per metric ton. Nickel gained $137 to $17,830/ton, while tin surged $904 to $53,752/ton. Aluminum rose $33 to $3,535/ton, and zinc climbed $88 to $3,584/ton. Lead advanced $22 to $1,966/ton. Cobalt futures remained flat at $56,290/t

London Metal Exchange (LME) futures closed today, June 12, with mixed performances across industrial metals. Tin led gains, jumping 904 dollars to $53,752 per tonne, while nickel advanced 137 dollars to $17,830 per tonne. Copper rose 216 dollars to $13,698 per tonne, zinc climbed 88 dollars to $3,58

The U.S. oil rig count for the week ending June 12, 2026, is due to be released within the next 10 minutes.

Federated Hermes has launched a money market fund under ticker OFFXX, specifically designed to serve as eligible reserve assets under the GENIUS Act, which requires stablecoin issuers to maintain 1:1 backing with high-quality liquid assets. The fund invests in U.S. dollar cash, Treasury securities w

From 15:00 to 16:00 UTC on June 12, 2026, ETH recorded a return of +0.26%, with the price ranging from 1,679.89 to 1,691.01 USDT and an amplitude of only 0.66%. This period fell within the active pre-U.S. stock midday trading phase. After a fast spike at the open, the price stabilized, showing a narrow-range fluctuation pattern, and overall market risk sentiment was relatively warm. The main driver behind this unusual move came from a risk-sentiment rebound after the U.S. stock market open. S&P

According to traders and vessel-tracking firms, on June 12, actual oil supply reductions in the Persian Gulf have been 5-6 million barrels daily, significantly lower than initial estimates of 12-15 million barrels daily. Millions of barrels are reportedly flowing undetected through the Strait of

Standard Chartered analyst Geoff Kendrick stated in a Friday note that the crypto market has reached its lowest point following Bitcoin's recent drop to nearly $59,000. Kendrick, the investment bank's global head of digital asset research, described the decline as a 53% drawdown from Bitcoin's

According to Bloomberg, Shell is planning to divest its offshore wind farms by year-end 2026, with the transaction likely to complete in 2027. The company has appointed Rothschild & Co. and PJT Partners as advisors to lead the sale, with the deal valued at over $1 billion. The divestment marks Shell

According to Bloomberg, ExxonMobil is exploring an acquisition of Woodside Energy, sources said recently. The specific terms and timeline of the potential transaction were not disclosed.

WTI crude oil fell $1.17 per barrel to $85.32 in the last 5 minutes, while Brent crude declined $1.23 per barrel to $87.97 over the same period.

According to Energy Secretary Wright on June 12, the U.S. will not impose an oil export ban to suppress prices and seeks to fully refill the strategic petroleum reserve.

U.S. Energy Secretary Wright announced potential summer gasoline tax relief to help lower gas prices.

Mexico's President Claudia Sheinbaum said recently that U.S. auto prices have surged significantly. She noted that reducing tariffs on Mexican vehicles would align with American interests, highlighting the trade relationship between the two countries amid ongoing tariff

According to Guru Club, U.S. Energy Secretary Rick Perry stated today (June 12) that no Iranian crude oil flows through the Strait of Hormuz.