Insights on global commodity markets
Deep, plain-English analysis on the political and economic forces moving prices — published every Sunday.
April 2026
12 min read
The new geopolitics of oil: pipelines, sanctions, and the shifting East
Russian crude has found a new home in Asia. We map the rerouted flows and ask what it means for the price floor of the next decade.
Read article →April 2026
9 min read
Copper is the new oil — and supply isn't keeping up
A decade of underinvestment in Chilean and Peruvian mines collides with the electrification boom. The math doesn't work without higher prices.
Read article →March 2026
11 min read
Climate, conflict, and the price of bread
Wheat volatility is now structural. We trace the climate, war, and policy shocks reshaping food security across the Global South.
Read article →March 2026
8 min read
Lithium's hangover and what comes next
After the 2023 collapse, lithium prices are searching for a floor. Demand is real — but so is the wave of new African and Argentinian supply.
Read article →February 2026
10 min read
The dollar, the Fed, and why every commodity desk watches Jackson Hole
A practical guide to the most important non-commodity variable in commodity pricing — and why 2026 may break the old correlations.
Read article →February 2026
7 min read
Elections in 2026: a commodity calendar
From Brazil's ag policy to Indonesia's nickel export rules, here's how this year's votes could reshape global supply chains.
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