Darrell Fletcher, Managing Director Commodities at Bannockburn Capital Markets joins me to update us on what he is seeing in the commodities market from a commodities trading desk perspective. We focus on copper, natural gas and oil.
We start with the recent downtick across nearly all major commodities, identifying slow summer trading and global pessimism as key factors. We then look into copper’s technical levels, such as the critical $4 mark and its 200-day moving average, as well as natural gas prices falling below $2 and future catalysts like LNG terminals. We also cover the impact of China’s economic stimulus on the market, OPEC’s potential actions amid falling oil prices, and the broader summer market trends marked by lower trading volumes. Darryl highlights the uncertainty in the market, the significant influences of upcoming central bank meetings, and the anticipated upticks in trading interest as summer ends.