Hormuz, China and Inventories Set the Tone – 4Q Commodity Outlook: BI Replay

Join Bloomberg Intelligence for our 4Q Commodity Outlook, covering the forces shaping energy, metals and agriculture. With Brent near $100, LNG benchmarks at 2.3–2.5x prewar levels and refined-product markets remaining tighter than recovering crude flows suggest, energy markets remain firmly in focus. Across the broader commodity complex, we’ll examine whether record U.S. copper inventories could unwind, why aluminum remains supported by a record deficit and just three days of exchange-stock cover, and how Gulf disruption is flowing through to urea and agricultural input costs. Could tighter monetary policy ultimately deliver the classic high-price cure? And where are the biggest risks and opportunities heading into year-end? Join Bloomberg Intelligence’s Rob Barnett, Mike McGlone, Grant Sporre, Will Hares and Jason Miner for the discussion.