Daily Vault Briefing ·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.
8 signals · 2 series crossed a threshold today
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 and method
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.