Darrell Fletcher, Managing Director Commodities AT Bannockburn Capital Markets joins me to discuss the latest trends in the commodities market, focusing on energy commodities and base metals. Darrell shares his insights on hedge fund positioning, noting that hedge funds are the shortest they’ve been in commodities since 2011.
We cover various factors influencing the market, including energy supply, Chinese demand, and speculative positioning. Additionally, we dive into specific market movements and price actions of crude oil, natural gas, copper, and other base metals. Darrell provides a comprehensive overview of the potential impacts of U.S. recession fears, interest rate cuts, and upcoming OPEC decisions.