Twelve essential reads on energy, metals and commodities. Analysis of the shocks, spreads and structural shifts that moved markets, written for counterparties who trade them.
On February 28, 2026, global energy markets were thrown into chaos. The beginning of the Middle East conflict triggered the most significant oil market shock since the Russian invasion of…
Read the analysisWhile the oil price surge dominated headlines, a quieter but equally remarkable development was taking place within the hedge fund industry. Quantitative trend following funds, commonly…
Read the analysisBy April 2, 2026, the oil market had entered uncharted territory. Brent crude reached approximately $128 per barrel, a level not seen since the 2008 financial crisis. The following day,…
Read the analysisAs oil prices began stabilising from their April highs, although remaining elevated, CTAs and other systematic traders were already moving towards new opportunities. The commodity rally had…
Read the analysisIn June 2026, an important development emerged from US energy policy discussions. The Trump administration was reportedly engaged in active discussions regarding the establishment of a new…
Read the analysisBy mid June 2026, copper had become one of the world's most closely watched commodities. On June 18, LME copper was trading at $13,735.50 per tonne, approaching the $14,000 level.
Read the analysisOn July 2, 2026, the oil market experienced a moment of optimism. Following a June memorandum of understanding between the United States and Iran, oil prices fell as low as $69 per barrel,…
Read the analysisOn July 10, 2026, the African Development Bank hosted a Ministerial Forum on Critical Minerals, Value Chains and Beneficiation in Abidjan, Côte d'Ivoire.
Read the analysisOn July 17, 2026, the European Commission released its long anticipated review proposal for the EU Emissions Trading System.
Read the analysisThe Asian LNG market was undergoing a profound transformation during July 2026. Wood Mackenzie forecast Asia Pacific LNG demand at 257 million tonnes in 2026, down from 268 million tonnes…
Read the analysisBy August 20, 2026, Brent crude was trading at approximately $93 per barrel, around $8 above the agency's own third quarter forecast with five weeks remaining in the quarter.
Read the analysisAs of August 2026, the global strategic petroleum reserve situation had reached a critical point.
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