Darrell Fletcher - From Tariffs to Trade Flows, What’s Driving Commodity Prices Now?

In this Daily Editorial I’m joined by Darrell Fletcher, Managing Director of Commodities at Bannockburn Capital Markets, to get a behind-the-scenes view of what's really happening across the commodity complex. Darrell shares key insights from the trading desk on oil, natural gas, copper, and gold - highlighting what’s changed since our last chat on April 30th.

 

Key themes covered:

• Choppy, range-bound commodity trading across oil, nat gas, copper, and gold
• Post-COVID repricing: Why copper, gold, and gas remain elevated while oil struggles
• China’s uncertain demand and the impact of global trade tensions on CapEx
• Forward curves as leading indicators: What they reveal about natural gas and crude
• The long-term impact of permitting reforms and capital constraints in mining
• Why gold remains a safe haven in an unstable fiscal and geopolitical environment

Darrell also offers perspective on summer trading trends, positioning shifts from COT reports, and whether oil can hold the critical $60–$65 range.

 

Click here to learn more about Bannockburn Capital Markets. 

 

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