Crude Prices Keep Rising; API Data Today Showed A Much Larger Than Expected Inventory Draw (8.5M barrels vs 2.4M)

Industrial metals down on weaker than expected manufacturing data and on speculation that China is considering a release from its strategic stockpile

Published Jun 15, 2021 7:08 PM ET

LME Copper Spot Price | Source: FactSet

Freightos Baltic China/East Asia To North America West Coast 40 Container Index up 9.0% (YTD: 62.6%)
Freightos Baltic China/East Asia To North America East Coast 40 Container Index up 7.0% (YTD: 83.0%)
Pork Primal Cutout Butt up 4.5% (YTD: 169.8%)
Freightos Baltic Global Index up 3.7% (YTD: 86.0%)
Freightos Baltic China/East Asia To North Europe 40 Container Index up 2.9% (YTD: 100.5%)
NYMEX Light Sweet Crude Oil (WTI) up 1.7% (YTD: 48.6%)
ICE Europe Brent Crude up 1.6% (YTD: 42.8%)
CME Live Cattle up 1.5% (YTD: 7.3%)

Freightos Baltic North America West Coast To China/East Asia 40 Container Index down -6.1% (YTD: 119.1%)
DCE Coke down -5.2% (YTD: -20.6%)
CBOE Crude Oil Volatility Index down -4.7% (YTD: -16.6%)
COMEX Copper down -4.2% (YTD: 23.5%)
Silver/US Dollar 1 Month ATM Option down -4.0% (YTD: -34.8%)
DCE Coking Coal Continuation Month 1 down -3.7% (YTD: 14.3%)
DCE Iron Ore Continuation Month 1 down -3.7% (YTD: 19.6%)
CME Lean Hogs down -3.6% (YTD: 68.6%)
NYMEX Henry Hub Natural Gas down -3.3% (YTD: 27.6%)
EEX European-Carbon- Secondary Trading down -2.8% (YTD: 60.1%)

WTI crude front month currently at US$ 72.46 per barrel, up 1.7% on the day (YTD: +48.6%); 6-month term structure in widening backwardation
Brent crude front month currently at US$ 73.99 per barrel, up 1.6% on the day (YTD: +42.8%); 6-month term structure in widening backwardation
Brent volatility at 27.4, down -1.2% on the day (12-month range: 24.7 - 58.6)
Newcastle Coal (ICE Europe) currently at US$ 125.00 per tonne, down -0.4% on the day (YTD: +55.3%)
Natural Gas (Henry Hub) currently at US$ 3.21 per MMBtu, down -3.3% on the day (YTD: +27.6%)
Gasoline (NYMEX) currently at US$ 2.17 per gallon, unchanged today (YTD: +54.1%); 6-month term structure in widening backwardation
Low Sulphur Gasoil (ICE Europe) currently at US$ 596.50 per tonne, up 0.4% on the day (YTD: +41.8%)

Copper (COMEX) currently at US$ 4.34 per pound, down -4.2% on the day (YTD: +23.5%)
Iron Ore (Dalian Commodity Exchange) currently at CNY 1,289.50 per tonne, down -3.7% on the day (YTD: +19.6%)
Aluminium (Shanghai) currently at CNY 18,835 per tonne, up 0.7% on the day (YTD: +21.3%)
Nickel (Shanghai) currently at CNY 129,050 per tonne, down -2.0% on the day (YTD: +6.5%)
Lead (Shanghai) currently at CNY 15,230 per tonne, down -0.9% on the day (YTD: +3.6%)
Rebar (Shanghai) currently at CNY 4,996 per tonne, down -0.9% on the day (YTD: +15.1%)
Tin (Shanghai) currently at CNY 206,220 per tonne, down -1.6% on the day (YTD: +37.0%)
Zinc (Shanghai) currently at CNY 22,675 per tonne, down -0.8% on the day (YTD: +7.2%)
Refined Cobalt (Shanghai) spot price currently at CNY 346,500 per tonne, unchanged today (YTD: +26.5%)
Lithium (Shanghai) spot price currently at CNY 620,000 per tonne, unchanged today (YTD: +27.8%)

Gold spot currently at US$ 1,857.57 per troy ounce, down -0.4% on the day (YTD: -2.1%)
Gold 1-Month ATM implied volatility currently at 12.15, up 0.4% on the day (YTD: -21.9%)
Silver spot currently at US$ 27.66 per troy ounce, down -0.7% on the day (YTD: +4.9%)
Silver 1-Month ATM implied volatility currently at 26.70, down -4.0% on the day (YTD: -34.8%)
Palladium spot currently at US$ 2,762.83 per troy ounce, up 0.4% on the day (YTD: +13.0%)
Platinum spot currently at US$ 1,152.89 per troy ounce, down -1.1% on the day (YTD: +7.8%)
Rhodium (Johnson Matthey, New York 09:30) currently at US$ 23,000 per troy ounce, up 1.3% on the day (YTD: +34.9%)
Iridium (Johnson Matthey, New York 09:30) currently at US$ 6,100 per troy ounce, unchanged today (YTD: +134.6%)

Live Cattle (CME) currently at US$ 121.23 cents per pound, up 1.5% on the day (YTD: +7.3%)
Lean Hogs (CME) currently at US$ 118.50 cents per pound, down -3.6% on the day (YTD: +68.6%)
Rough Rice (CBOT) currently at US$ 12.31 cents per hundredweight, down -1.6% on the day (YTD: -0.7%)
Soybeans Composite (CBOT) currently at US$ 1,465.75 cents per bushel, down -0.4% on the day (YTD: +11.4%)
Corn (CBOT) currently at US$ 667.50 cents per bushel, up 1.3% on the day (YTD: +37.9%)
Wheat Composite (CBOT) currently at US$ 661.50 cents per bushel, down -1.9% on the day (YTD: +3.3%)
Sugar No.11 (ICE US) currently at US$ 17.05 cents per pound, down -1.4% on the day (YTD: +10.1%)
Cotton No.2 (ICE US) currently at US$ 85.28 cents per pound, up 0.4% on the day (YTD: +9.2%)
Cocoa (ICE US) currently at US$ 2,373 per tonne, down -1.0% on the day (YTD: -8.8%)
Coffee Arabica (Colombia Excelso) currently at EUR 3,749 per tonne, down -1.6% on the day (YTD: +18.5%)
Random Length Lumber (CME) currently at US$ 1,009.90 per 1,000 board feet, up 1.4% on the day (YTD: +15.7%)
TSR 20 Rubber (Shanghai) currently at CNY 10,325 per tonne, down -1.7% on the day (YTD: +0.4%)
Soybean Oil Composite (CBOT) currently at US$ 65.57 cents per pound, down -0.6% on the day (YTD: +51.3%)
Crude Palm Oil (Bursa Malaysia) currently at MYR 3,642 per tonne, unchanged today (YTD: -8.5%)

Baltic Dry Index (Baltic Exchange) currently at 2,944, up 3.0% on the day (YTD: +115.5%)
Freightos China To North America West Coast Container Index currently at 6,829, up 9.0% on the day (YTD: +62.6%)
Freightos North America West Coast To China Container Index currently at 1,134, down -6.1% on the day (YTD: +119.1%)
Freightos North America East Coast To Europe Container Index currently at 685, down -1.9% on the day (YTD: +88.8%)
Freightos Europe To North America East Coast Container Index currently at 5,193, unchanged today (YTD: +177.8%)
Freightos China To North Europe Container Index currently at 11,352, up 2.9% on the day (YTD: +100.5%)
Freightos North Europe To China Container Index currently at 1,625, unchanged today (YTD: +18.2%)
Freightos Europe To South America West Coast Container Index currently at 4,790, unchanged today (YTD: +183.2%)

EUA futures front month (European Energy Exchange) currently at EUR 51.40 per tonne, down -2.8% on the day (YTD: +57.1%)

CO2 Permits | Sources: phipost, Refinitiv data