Commodities (Crude Oil & Copper) & Macro Outlook

According to Jin10, on Thursday overnight (July 24), U.S. major indices closed lower, with the Nasdaq dropping 2.15% to 25,137.69, the S&P 500 falling 1.21% to 7,408.3, and the Dow Jones declining 0.97% to 51,711.65. Tesla crashed over 14% on disappointing Q2 earnings, while Google fell over 7%.

US stocks declined on the 23rd local time as oil prices surged past $100 amid escalating Middle East tensions, with Tesla falling 14% and Alphabet dropping 7%. The selloff was driven by concerns over inflation resurgence from high oil prices, potential Federal Reserve interest rate hikes, and

According to Guru Club, on July 24, WTI crude oil futures September contract rose 6.17% to settle at $92.19 per barrel, while Brent crude oil futures September contract gained 7.04% to close at $100.69 per barrel.

The US dollar strengthened across major currencies as of 4pm ET on the 23rd, driven by robust US labor market data and surging oil prices amid Middle East tensions. The dollar-yen exchange rate climbed to 163.824 yen, up 0.676 yen (0.414%) from the prior New York session close of 163.148 yen, with a

The US dollar strengthened on the 23rd, with the USD-JPY exchange rate reaching 163.824 yen—up 0.676 yen (0.414%) from the previous New York close of 163.148 yen—as robust US labor market indicators and surging international crude oil prices bolstered the greenback. The yen continued trading near it

According to Yonhap Infomax, as of 4 p.m. ET on July 23, the dollar strengthened on robust U.S. labor market data and elevated Middle East geopolitical tensions. The dollar index (DXY) rose to 101.437, marking its highest level since May 1. The dollar-yen rate climbed to 163.824 yen, while the dolla

According to the China Photovoltaic Industry Association, the photovoltaic supply chain saw production declines, weakening prices, and significantly lower new installations in the first half of 2026, the industry body said on July 23 at its industry review conference. The association noted that

According to Yonhapinfomax, on July 23 U.S. Treasury yields rose sharply amid geopolitical tensions. The 10-year yield reached 4.703%, marking an 18-month high, as Brent crude climbed 7% to $100.69 per barrel following reports of tanker attacks in the Red Sea and U.S. President Trump's threat of a m

According to Jin10 data tracking on July 24, U.S.-Iran tensions escalated significantly with the U.S. deploying B-1 bombers and both sides exchanging military strikes. The Iranian Revolutionary Guards claimed to have targeted U.S. military positions in Kuwait and Qatar, while warning that any

Brent crude oil surged past $100 per barrel on July 23 as Middle East tensions escalated following Houthi rebel attacks on Saudi Arabian tankers in the Red Sea. The Iran-backed Yemeni group claimed responsibility for striking two Saudi oil tankers attempting to pass through the Bab el-Mandeb

SK E&C, a South Korean renewable energy developer, surged over 55% in July, closing at 80,600 won on the 23rd with a 30.00% single-day gain — a record high. The rally occurred as the KOSPI index fell from mid-8,000s to early 7,000s during the same period. The surge was driven by a renewed Middle

According to Korean media on July 23, SK Ecognics, a renewable energy developer, surged 55% in July and hit an all-time high of 80,600 won (up 30%) on July 22, significantly outperforming the KOSPI index. The rally was driven by a rebound in international oil prices as Middle East tensions

According to Edaily, South Korea's government has launched a settlement committee to begin calculating compensation losses for oil refineries four months into its fuel price cap policy. The committee, chaired by Seoul Science and Technology University professor Yoo Seung-hun, will begin processing r

According to U.S. officials, new tariff measures will target 60 economies, covering approximately 99% of U.S. trade. The tariffs will take effect on July 28 at 00:01 EDT (12:01 PM Beijing time).

According to Kitco News, Freeport-McMoRan (NYSE: FCX) reported adjusted second-quarter 2026 earnings of $1.1 billion, or $0.74 per share, backed by strong gold and copper prices. The company realized an average gold price of $4,520 per ounce, a 37% increase from $3,291 per ounce in Q2 2025, while co

International gold futures experienced a sharp decline on the afternoon of the 23rd (US Eastern Time), with August delivery contracts falling 2.54% amid rising oil prices and Treasury yields. The August gold futures contract (GCQ6) on the COMEX exchange dropped $105.60 to $4,046.30 per troy ounce as

The German 10-year Bund yield, serving as the eurozone government bond market benchmark, reached a 15-year high on July 23 (local time) amid surging international oil prices. The yield closed at 3.2304%, up 2.81 basis points from the previous session — the highest level since May 2011. The rise

According to Yonhapnews, German Bund 10-year yields reached 3.2304% on July 23, their highest level since May 2011, driven by surging international oil prices and monetary policy expectations. Brent crude briefly exceeded $100 per barrel for the first time since May 26, amid escalating U.S.-Iran

According to Kitco, spot gold fell to $4,066.82, down 1.52%, while silver dropped to $58.06, down 2.75% Thursday morning, as rising Treasury yields, a firmer U.S. dollar, and crude oil prices above $90 a barrel offset safe-haven demand from escalating U.S.-Iran tensions in the Strait of Hormuz.