Commodities (Crude Oil & Copper) & Macro Outlook

According to CNN, Iran's top leader adviser on June 6 reaffirmed that Iran and Oman hold sovereignty over the Strait of Hormuz, a critical waterway that previously transported one-fifth of global oil and liquefied natural gas. The adviser stated the two countries will jointly manage the strait and c

As of the week ending June 5, the total U.S. rig count reached 563, up one from 562 in the prior week.

The total number of active oil drilling rigs in the United States reached 431 in the week ending June 5, increasing from 429 rigs in the prior week.

U.S. natural gas drilling rigs declined to 124 for the week ending June 5, down from 125 in the prior week.

WTI crude oil declined 3.00% intraday on June 6, trading at $91.62 per barrel.

According to IATA's Middle East vice president, Kuwait's main terminal was damaged in recent Iranian attacks and will remain closed for at least one year. Currently, all non-Kuwaiti airlines have halted operations, leaving only domestic carriers active at the

According to Jin10 Futures night market summary, the U.S. added 172,000 non-farm jobs in May, significantly exceeding market expectations of 85,000. The unemployment rate held steady at 4.3% for the second consecutive month as expected. Following the jobs data release, market pricing shifted

According to Mysteel, on June 6, China's coke market continued strengthening with coke prices advancing their sixth consecutive increase in recent weeks. Coke producers attributed the rally to sustained cost pressures from rising coking coal prices and structural shortages of premium coal grades,

Air New Zealand's CEO stated plans to procure aviation fuel from Singapore at approximately $150 per barrel during the 2027 fiscal year.

According to Financial Times, global oil tanker shipping profit reached a record $36 billion in the first quarter due to February's conflict and Iran's blockade of the Strait of Hormuz. However, as the U.S. and Iran negotiate to reopen the critical shipping lane, tanker owners face the risk of

According to Kpler shipping data, Iran's crude oil and condensate exports fell to less than 300,000 barrels per day in May, marking the lowest level since late 2019 to early 2020. The blockade has reduced exports from roughly 2 million barrels per day before the U.S. naval operations, resulting in a

Fundstrat strategist Mark Newton recommended consumer and transportation sectors to investors seeking diversification from technology stocks. Newton attributed recent strength in these lagging sectors to declining crude oil prices, noting that technology and semiconductor stocks are becoming

According to Rosneft CEO Sergei Chemezov, if the current crisis is resolved, the oil market may return to fundamentals in the second half of 2027.

According to energy forecaster Lister Energy, U.S. oil and gas companies may generate more than $60 billion in additional profit this year, Russian state oil company Rosneft CEO Igor Sechin stated.

According to Guru Club, lean hog futures settlement prices fell 2.9% to 98.7 cents per pound today (June 6), marking the second consecutive day of decline and pushing prices below the $1 per pound level. The decline was driven by a drop in average pork carcass cutout prices, which fell 38 cents per

According to Jin10, Iran's Revolutionary Guards stated that if the United States continues its provocative actions, the U.S. will bear full responsibility for consequences resulting from a complete closure of the Strait of Hormuz and disruption to oil and gas

According to NBC, on June 5, U.S. President Trump stated he would rapidly end the conflict with Iran to help reduce living costs and bring down fertilizer prices. Trump said the U.S. has "substantially destroyed" Iran's military capabilities, adding that remaining missiles account for

According to Iranian sources, explosions were reported in the Sirik region along the Strait of Hormuz on June 6 at approximately 2:30 AM local time. The source of the blasts and further details remained unconfirmed as of the latest update, according to CCTV

According to Jin10, President Trump stated on June 5 during a campaign event in Wisconsin that he will swiftly end the conflict with Iran to reduce oil prices and lower living costs. Trump indicated that the ongoing military tension has driven up energy costs, creating economic headwinds for