Commodities (Crude Oil & Copper) & Macro Outlook

U.S. crude oil imports reached 226,000 barrels for the week ended June 19, according to API data, rebounding from a net export of 276,000 barrels in the prior week.

US crude oil inventories declined by 765,000 barrels in the week ended June 19, according to the American Petroleum Institute. The decline fell short of market expectations of a 4.995 million barrel drop, and compared to a 8.33 million barrel decrease in the prior week.

According to the American Petroleum Institute (API), U.S. finished products imports fell to -152,000 barrels per day for the week ending June 19, compared to -121,000 barrels per day in the previous week.

According to API (American Petroleum Institute), U.S. heating oil inventories declined 405,000 barrels for the week ending June 19, compared to a decline of 125,000 barrels in the prior week.

U.S. crude oil inventories at Cushing, Oklahoma declined 982,000 barrels in the week ending June 19, according to API data. This compares to a decline of 1.523 million barrels in the previous week.

On Tuesday (June 23), emerging market ETFs fell 5.67%, the steepest decline among major U.S. equity and commodity ETF classes, while Nasdaq-100 ETF dropped 3.54%. The S&P 500 ETF declined 1.45%, Russell 2000 ETF fell 0.96%, and energy-linked Brent crude oil fund lost 1.35%. On the upside, U.S.

The American Petroleum Institute (API) will release its weekly crude oil inventory report at 4:30 AM Beijing time on June 23. Non-API members can access the data details around 4:32 AM.

According to Jin10, U.S. President Trump stated on June 23 that the United States is seeking a fair deal with Iran to end conflict in the Strait of Hormuz. Trump noted that 19 million barrels of oil transited through the waterway on June 22 alone. He reiterated that Iran cannot possess nuclear

According to Bloomberg Commodity Index data, on Tuesday (June 23), CBOT wheat futures fell 1.56% while ICE Arabica coffee futures surged 4.95%. The Bloomberg Commodity Index declined 0.79% to 29.2406 points. CBOT corn futures dropped 0.40%, and CBOT soybeans held flat at $11.4150 per

Nouriel Roubini has co-authored a whitepaper for USAFi, a digital security developed by Atlas Capital Team. The product is set to launch in the third quarter of 2026 under Dubai's Virtual Assets Regulatory Authority (VARA). Roubini, known for predicting the 2008 financial crisis, previously called

The United States and Iran held direct negotiations in Switzerland, mediated by Pakistan and Qatar, resulting in a roadmap to reach a final deal within 60 days. The Federal Reserve maintains a hawkish stance on monetary policy, with market expectations pointing to a potential rate hike as soon as

Nouriel Roubini, the economist known for predicting the 2008 financial crisis, has co-authored a whitepaper for USAFi, a new ERC-20 digital security backed by the Atlas America Fund. The fund, listed on Nasdaq under ticker USAF and registered with the U.S. Securities and Exchange Commission,

According to Jin10, major gas exporters including the U.S., Qatar, Nigeria, and Algeria urged the European Union on June 24 to relax proposed methane emission regulations, warning the rules could threaten Europe's energy security. The countries called for a "pragmatic approach" to clarify and

WTI July crude oil futures closed down 0.65 dollar, or 0.88%, at 73.21 dollars per barrel. In energy markets, NYMEX July natural gas futures closed at 3.1470 dollars per million BTU, while July gasoline futures ended at 2.9590 dollars per

According to Jin10, Shanghai gold futures closed down 0.82% overnight on June 24, settling at 902 yuan per gram, while Shanghai silver futures fell 4.36% to 14,868 yuan per kilogram. SC crude oil futures declined 1.52% to 492 yuan per

Alan Taylor, a member of the Bank of England's Monetary Policy Committee, stated on June 23 that energy price increases stemming from an Iran conflict would pose lower risks of secondary inflation effects compared to the 2022 Ukraine war, partly due to the timing of annual wage

According to the Federal Reserve Bank of Dallas, oil prices surging above $120 per barrel last spring (2025) reduced U.S. economic output by approximately 0.3 percentage points, a significantly smaller shock than similar petroleum disruptions in the 1980s, when the U.S. was more dependent on oil

CFTC chair Michael Selig said today (Jun 23) that the agency's regulatory approach to crypto perpetual futures may not be a natural fit for traditional commodity markets such as agriculture, in remarks to U.S. cotton

Carnival Cruise Line lowered its full-year 2026 fuel cost outlook to $2.12 billion from $2.15 billion, citing geopolitical tensions and surging fuel prices that disrupted bookings and compressed margins. Mediterranean routes in Europe faced the steepest impact last quarter. The cruise operator

According to Jin10, Mexico's Pemex and Brazil's Petrobras signed a non-binding memorandum of understanding on June 24 to collaborate on oil exploration, production, and refining. The agreement covers shallow and deepwater operations in the Gulf of Mexico, as well as natural gas, petrochemicals, and