Copper Eyes $15K, EU Gas Hits €75, and Freight Snarls Wheat Trade

The Commodities Trade Institute Podcast · Sep 9, 2026 · 5m

Benchmark copper approaches $15,000 per ton amid United States tariff speculation that is draining international warehouses, while European natural gas prices climb to €75 per megawatt-hour on a six-month Strait of Hormuz disruption and critically low storage. Simultaneously, Pakistan enters the freight market with a 750,000-ton wheat tender against ongoing Black Sea shipping risks, Chevron expands drilling operations in Venezuela, and heatwaves stress crop output across the United States and France.

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