Commodity

Europe's gas storage is refilling much more slowly than usual as the drop in prices encourages more consumption by industrial users and power generators while diverting liquefied natural gas (LNG) cargoes to Asia.

Oil prices may remain oscillating in the short term, but the general bullish view of crude oil remains unchanged.

The government's starting U.S. corn yield for 2023 has already raised eyebrows for being notably above the prior record, and that number is likely to come under further scrutiny on Friday given near-record dryness across the Corn Belt since planting.

It is recommended to maintain to build positions at lows this year.

Iran and the U.S. are close to reaching an interim deal to ease some sanctions on Iran in exchange for a reduction in Iran's uranium enrichment activities, two sources said.

Gold prices found support around the $1,939 range. The primary bearish trend in the 4-hour chart is starting to reverse. The consolidation phase of the past few trading days may be overturned once the bulls take hold.

Nickel has been the under-performer of the London Metal Exchange (LME) base metals pack this year.

Gold prices may be under pressure in the short term, and buying opportunities are coming.

WTI crude oil prices remained depressed in the range, and remained under pressure for the second consecutive day. API crude oil inventory unexpectedly decreased, and the market focused on the EIA inventory report to clarify the direction.

China's crude oil and natural gas imports recovered strongly in May, which could help improve market sentiment. For copper, China's concentrate imports jumped to a fresh high, while unwrought copper imports remain soft.