Commodities Summit Key Takeaways from the Financial Times

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Financial Times 3w ago

Commodities Summit Key Takeaways from the Financial Times - Financial Times

Quick Summary:

Ben Hoff, global head of commodity strategy at Société Générale, previously warned that the possibility of Saudi Arabia quickly bringing in some 3mn barrels a day hung over the market “like the sword of Damocles”.

The average price for this year so far is barely changed from 2023 at about $82 a barrel, meaning that the effect on inflation is likely to be muted for now, reducing the immediate need for the US to put pressure on Opec+.

The risk of a “shadow war” between Iran and Israel could be a “live one”, Helima Croft, head of global commodity strategy at RBC Capital Markets, said last week.