Commodities (Crude Oil & Copper) & Macro Outlook

According to Qatar News Agency, Turkey and Libya held talks recently on cooperation in the oil and gas sector. The discussions focused on bilateral energy partnerships between the two countries.

As of the week ending May 22, U.S. total oil rig count rose to 558 from 551 in the prior week, marking a gain of seven rigs.

According to ECB Governing Council member Isabel Müller, the recent surge in energy prices provides a good reason for the central bank to raise rates in June. Müller's comments signal support for a potential interest rate increase in the coming month amid inflationary pressures from elevated energy

According to Jin10, citing analyst Bradley Saunders from Capital Economics, Canada's retail sales declined 0.7% month-over-month in March on May 22, though below the expected severity. On a nominal basis, retail sales grew 0.9% in March, beating the prior estimate of 0.6%. Preliminary figures

According to Financial Times, the U.S. will relax its blockade on Iranian ports following an agreement reached with Iran.

The U.S. stock market will close on May 25 due to the Memorial Day holiday. CME precious metals and crude oil futures will end trading early at 02:30 Beijing time on May 26, while U.S. stock and Treasury futures will close at 01:00 Beijing time on May 26. Hong Kong stock market will close on May 25

According to OnchainLens monitoring today (May 24), a whale opened a 25x leveraged long position on GOLD worth $12.6 million. The same whale also holds a 20x leveraged short position on crude oil futures with unrealized gains

According to Saudi media Alhadath, Iran has proposed opening the Strait of Hormuz in exchange for U.S. compensation. Iran has stated that any agreement must address sanctions and frozen assets before being

According to Jin10 data and Wynward Maritime Analysis, the U.S. military on May 24 continued firing warning shots at vessels entering and leaving Iranian ports near the Strait of Hormuz, with no signs of easing the maritime blockade. Radio recordings from crew members aboard trapped ships showed U.S

According to CITIC Securities, U.S.-Iran negotiations are approaching agreement, with markets already pricing in this baseline scenario. Following an accord and the reopening of the Strait of Hormuz, both supply and demand are expected to normalize simultaneously. Current weak economic indicators re

According to Guru Club, citing China CITIC Futures on May 24, a coal mine accident is expected to push coking coal (焦煤) prices higher in the coming weeks. The brokerage noted that coking coal fundamentals remain healthier than in 2024, with upstream coal inventories sitting lower. Despite the accide

According to Ukraine's General Staff, Ukrainian forces conducted strikes on Russia's Sheskhary Black Sea oil terminal and the nearby Grushnovaoe oil storage facility.

According to Bloomberg citing Kpler data, India's imports of liquefied petroleum gas (LPG) and liquefied natural gas (LNG) from the United States in May are forecast to reach historic highs.

According to Iran, approximately 240 vessels are currently awaiting approval from Iranian authorities to transit the Strait of Hormuz on May 24, according to state media reports.

According to Iran on May 24, approximately 240 vessels are currently waiting for Iranian approval to enter the Strait of Hormuz.

Bitcoin recovered sharply on Saturday after President Donald Trump announced that a peace agreement with Iran and several Middle Eastern countries had been largely negotiated. The cryptocurrency had fallen approximately 4% from late Friday into early Saturday, touching nearly $74,000 before

Bitcoin fell below $76,000 as inflation fears and liquidations pressured crypto markets. Rising oil prices and Fed rate hike expectations weakened overall investor sentiment. Analysts remain optimistic despite $1.26 billion in Bitcoin ETF outflows this week. Bitcoin — BTC, slipped below

According to Ukrainian military, Ukraine struck the oil loading dock at the Taman oil and gas terminal located in Russia's Krasnodar region on May 24.

According to data from Korea International Trade Association released by Jin10 on May 24, South Korea's total crude oil imports in April reached 8.46 million tons, down 22.8% year-over-year. Middle Eastern crude accounted for 4.49 million tons, falling 37.3% compared to the same period last year