David Osman of IRF is joined by Jeffrey Christian, the Founder and Managing Partner of the CPM Group.

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In this podcast Jeffrey Christian provides an informative rundown on the outlook for commodity investments in 2026 and beyond. He begins with an assessment of the prospects for the demand, supply and prices of precious metals, both in the near term and in the longer run.

In the energy sector, Jeffrey considers the various factors that make the outlook for crude oil prices uncertain this year, not least because of potential geopolitical developments in Venezuela, the Middle East and Ukraine, as well as the current erratic nature of US foreign policies. He expects oil prices to remain relatively steady, while natural gas prices have some upside potential. Jeffrey then discusses his preferred commodities and concerns in the base metals sector and the agricultural markets.

The episode concludes with an assessment of the various factors that are impacting on the flow of funds into the commodities sector and Jeffrey explains why he believes that global asset allocators should have a substantial position in commodities in a multi-asset portfolio for 2026 and beyond.

Jeffrey Christian has been a prominent analyst and advisor on the commodities markets since the 1970s, with work spanning precious metals, energy markets, base metals, the agricultural markets and economic analysis.

Founded in 1986, the CPM Group is an independent commodities research, consulting, asset management and investment banking firm that provides comprehensive research, analysis and advisory services. The CPM Group is also known for its overall economic analysis of the commodities markets and its expertise in financial engineering.