Global Commodities: A Month of Disruption

Global Commodities: A Month of Disruption

From At Any Rate by J.P. Morgan Global Research

April 2, 2026 · 13 min · Episode 719

About this episode

This episode discusses the recent disruptions in global commodities over the past month amidst ongoing conflict and market volatility.

There has been no rest for commodities in the last 34 days. This week, Houthis have formally entered the conflict, while metals and energy infrastructure continued to be targeted by strikes. With an expanded geography of the war and no immediate off-ramp in sight, market volatility persists. In this episode, we discuss this week's updates and the month behind us. Speakers: Natasha Kaneva, Head of Global Commodities Research Greg Shearer, Head of Base and Precious Metals Strategy Otar Dgebuadze, European Natural Gas This podcast was recorded on April 2, 2026. This communication is provided for information purposes only. Institutional clients can view the related report at https://www.jpmm.com/research/content/GPS-5250119-0, https://www.jpmm.com/research/content/GPS-5252085-0, https://www.jpmm.com/research/content/GPS-5249648-0, https://www.jpmm.com/research/content/GPS-5249764-0, https://www.jpmm.com/research/content/GPS-5244760-0 and https://www.jpmm.com/research/content/GPS-5248912-0 for more information; please visit www.jpmm.com/research/disclosures for important disclosures. © 2026 JPMorgan Chase & Co. All rights reserved. This material or any portion hereof may not be…

People in this episode

Guests: Natasha Kaneva, Greg Shearer, Otar Dgebuadze

Topics covered

  • commodities
  • market volatility
  • energy
  • metals
  • conflict

Keywords

  • Houthi conflict
  • energy infrastructure
  • metals strategy

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