Commodities (Crude Oil & Copper) & Macro Outlook

The foreign ministers of Egypt, Pakistan, Saudi Arabia, and Turkey held talks in Cairo on June 21 to discuss regional security and the Iran situation. In a joint statement, they warned that U.S.-Iran conflict poses major risks to regional stability, energy markets, and global supply chains. The

According to CNN, analysis by the Center for Strategic and International Studies (CSIS) shows the conflict with Iran has cost the U.S. Defense Department approximately $40 billion as of June 22, including ammunition, equipment damage, and base repairs. The conflict also generated an additional $1 bi

According to sources, a fire broke out at the cogeneration facility of Marathon's Galveston Bay refinery in Texas on June 21. No personnel casualties have been reported at present.

Franklin Templeton plans hybrid funds using stock dividends for Bitcoin exposure up to 20% allocation limits. Crypto ETF flows shifted from strong inflows to sustained outflows during recent market sessions. Institutional product innovation continues expanding Bitcoin access through

According to Iran's state television, the head of Iran's National Oil Company stated that over 25 million barrels of Iranian oil have passed through a blockade since last Monday (June 16).

According to Fox News, President Trump warned Iranian officials yesterday evening not to close the Strait of Hormuz. Trump stated the United States could become the "guardian angel" of the strategic waterway and take 20% of its oil, adding that the U.S. would impose transit fees if

According to Iraq's Deputy Oil Minister for upstream affairs, on Sunday, Iraq plans to gradually restore crude oil production to between 4.2 and 4.3 million barrels per day. The proposed increase would return output to pre-Iran war and Hormuz Strait closure

According to the latest U.S. Commodity Futures Trading Commission data as of June 21, hedge funds and major speculators' net long positions in Brent crude have fallen to a six-month low, declining nearly 75% since late March. The shift reflects a broader market reversal from concerns over supply

According to Guru Club, on June 21, Iran's deputy oil minister stated that Iraq plans to gradually resume crude oil production to 4.2-4.3 million barrels per day (mbpd), restoring output to pre-U.S.-Iran conflict

According to Jin10, on June 21, bearish oil options positions regained focus as crude futures prices declined sharply following a U.S.-Iran peace agreement. More than 20,000 cash-settled put option contracts on WTI crude, representing approximately 2 million barrels per month, which had been

Libya's National Oil Corporation announced crude oil production reached 1.44 million barrels per day, marking the highest output level since 2013.

U.S. President Donald Trump stated yesterday that 19 million barrels of oil flowed out of the Persian Gulf.

According to Fox News, President Trump warned Iran during a late-night phone call on June 20 not to close the Strait of Hormuz, stating that the country would "cease to exist" if it did so. Trump said the U.S. could serve as a "guardian angel" of the strategic waterway and potentially seize 20% of i

According to Jin10, U.S. Vice President Vance stated today (June 21) that the U.S. has opened the Strait of Hormuz and expects further measures. President Trump is committed to achieving a comprehensive regional

Planned US-Iran technical talks in Switzerland were postponed after Switzerland's Foreign Ministry confirmed bilateral meetings in Buergenstock would not proceed as scheduled. The postponement followed renewed fighting in southern Lebanon, where Israel and Hezbollah exchanged fire before a

According to Iran's Tasnim news agency on June 21, a source close to Iran's negotiation team stated that if Israel continues military operations in Lebanon and Lebanon's territorial integrity is not guaranteed, Iran will not engage in negotiations with the United States, and the Hormuz Strait will n

According to Saudi media reports including Hadath and Arab Satellite Television, Pakistan's foreign minister stated that Iran will not block ships from passing through the Strait of Hormuz over the next 60 days, and no transit fees will be

According to Iran's Tasnim news agency, on June 20, Iran's military announced the closure of the Strait of Hormuz. Maritime navigation data shows no vessels have transited the strategic waterway since the announcement, with traffic volumes dropping to

According to Iran's Fars News Agency, the Strait of Hormuz remained closed on June 21, with Iran's navy refusing passage to any vessel without explicit authorization. The Iranian Foreign Ministry confirmed that four-way talks between Iran, the U.S., Qatar, and Pakistan were scheduled to take place l

According to Deutsche Bank's research division on June 20, artificial intelligence-driven demand for high-bandwidth memory (HBM) is creating an unprecedented semiconductor shortage that threatens broader macroeconomic stability. The bank warned that memory chips have evolved from traditional