WTI crude oil fell more than 2% intraday, currently trading at $75.70 per barrel.

1. Renaming the Democrats the "Stupid Democrats" —Trump: Those "idiots" in the Democrats always say Iran is stronger now than it was three months ago, but they've clearly been defeated; their navy and air force are gone. So I call them the "Stupid Democrats"!!! 2. Boasting about the war against Iran —Trump: Radical left-wing fools and Democrats realize how well we've done in the war against Iran; their countries have been completely defeated militarily. Iran had been "at large" for the past 47 years until I came along. Then everything changed. America is back! 3. Mocking the Italian Prime Minister Again —Trump: Italian Prime Minister Meloni repeatedly asked for a photo with me at the G7 summit. Her approval rating in Italy isn't high, and she's having a tough time, perhaps because she rejected the US position on preventing Iran from acquiring nuclear weapons. Now, after the US militarily defeated Iran, she wants to be friends again to "boost" her poll numbers. No thanks! 4. Italian Prime Minister Responds: Focus on Approval Rating —Italian Prime Minister Meloni responded on the 20th to US President Trump's latest criticism of her administration, saying that Trump's "continuous and baseless attacks are meaningless" and that he should "focus on his approval rating." Meloni issued a statement that day saying that her approval rating did not depend on her relationship with Trump, but on her ability to protect Italy's national interests. She stated that her approval rating "has nothing to do with Trump." 5. Suggests Renaming ICE —US President Trump: The name of the US Immigration and Customs Enforcement (ICE) should be changed from "ICE" to "NICE." This would completely confuse those corrupt, dishonest, and unpatriotic journalists and news workers. 6. Threatens to Charge Strait Tolls if Agreement Not Reached —Trump stated that there would be no passage fees in the Strait of Hormuz for the 60-day ceasefire period. No tolls will be charged after the 60-day period ends, unless the relevant agreement fails to be reached and the United States, as the "guardian angel" of the Middle Eastern countries, provides them with services and seeks compensation for the costs incurred in the past, present and future. The United States will then determine and levy the relevant fees.

JPMorgan Chase: The key catalyst for copper prices in the second half of 2026 will be policy, not supply and demand balance.