Jun 10, 2026
The energy complex keeps draining while the base metals split, with Cushing and SPR crude sliding, copper inventory and managed-money longs both building, and LME aluminum at its lowest since Oct 2022.
The Strategic Petroleum Reserve held 349.2 MM bbl as of Jun 5, the lowest since Aug 2023. That's down 2.2% on the week and down 11.1% over 30 days.
Managed-money funds were net long 75,747 copper contracts as of Jun 2, the highest since Feb 2021. The position rose 7.4% on the week and 24.3% over 30 days.
Cushing crude stocks sat at 21.6 MM bbl as of Jun 5, the 17th percentile of the 22-year record. Down 3.6% on the week and down 25.7% over 30 days.
US commercial crude held 426.5 MM bbl as of Jun 5, still the 81st percentile of the 44-year record. Down 1.7% on the week and down 6.7% over 30 days.
LME lead stocks stood at 308,050 mt as of Jun 9, the 92nd percentile of the 18-year record. Off 0.4% on the day but up 15.9% over 30 days.
COMEX copper stocks reached 647,761 short tons as of Jun 8, the highest in the 5-month record. Up 0.2% on the day and up 5.0% over 30 days.
COMEX platinum coverage was 6.9% as of Jun 8, the 5th percentile of the 5-month record. Little changed on the day and down 14.5% over 30 days.
LME aluminum stocks fell to 327,750 mt as of Jun 9, the lowest since Oct 2022. Down 1.0% on the day and down 7.9% over 30 days.
Sources: CME Group COMEX warehouse reports, LME warehouse data, EIA Weekly Petroleum Status Report, ETF issuer filings, and venue price quotes. Every figure is computed straight from the stored source data; percentiles rank today's level against the series' full record.