In this episode, JPMorgan analysts digest yet another week of market volatility in commodities. The metals hit records on Thursday, but only to backtrack and slide by largest amounts seen in years. Oil and gas, on the other hand, grappled with weather and policy uncertainty. We discuss price fundamentals, risk premia and even weather to try and explain these dynamics.

Speakers:

Natasha Kaneva, Head of Global Commodities Research

This podcast was recorded on Jan 30, 2026.

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