The COFR crude oil contract closed last week's fluctuation with a significant correction of 8.64% to the level of Rp 976,900 per barrel. Still a major catalyst of pressure, price consolidation in the bearish zone weighed down by a potential increase in oil supplies from the US as well as a spike in the spread of Covid-19 globally triggering new restrictions and lockdowns that negatively impacted fuel demand.

The COFR crude oil contract closed last week's fluctuations with a slight increase of 0.83% to Rp 1,045,600 per barrel. The narrow movement of crude oil last week occurred on the back of a tug of war of positive and negative sentiment absorbed by the market which is very sensitive to the stability of global oil supply and demand levels.

While the transition to renewable energy continues to grow, environmentally damaging activities grow faster. Governments and private companies across the globe has committed to a net-zero emission goal by 2050, but as the urgency increases, we need a more efficient global solution.

Here is our monthly recap on GOFX transactions and the global market sentiment for July 2021.

The price of tin traded on ICDX was observed to show a bullish trend throughout 2021, where the price of tin which was around $21,000 at the beginning of the year continued to climb up to penetrate the level above $35,000 at the close of the 1st semester of 2021. In terms of volume, tin exports carried out through ICDX also show positive performance. The total export volume in the first semester of this year reached 12,866.93 metric tons, an increase of 202 percent compared to the second semester of last year.

Normally, people would go out to earn some money, but now they just need to stay at home. Digital assets such as crypto did not escape the investors' eyes while being isolated at home.

The COFR crude oil contract closed last week's fluctuations with a slight increase of 0.83% to Rp 1,045,600 per barrel. The narrow movement of crude oil last week occurred on the back of a tug of war of positive and negative sentiment absorbed by the market which is very sensitive to the stability of global oil supply and demand levels.

The crude palm oil (CPO) contract closed last week with a weekly appreciation of 2.28% to the level of Rp 14,145,- per kg. The sentiment around the CPO market, which tends to be responded negatively by the market, has in fact provided its own positive catalyst for prices. The political turmoil from the main producing country Malaysia, as well as the chaos related to COVID that hit the two main CPO producing countries, namely Indonesia and Malaysia, are the headlines that need to be underlined.