BlackRock's Hambro: Never Underestimate Political Risk in Energy Markets

The video discusses the impact of geopolitical and trade tensions on commodities, highlighting how these factors create market uncertainty and affect economic activity. It examines specific supply disruptions in the copper market and their effects on production. The video also explores the tight correlations within the commodity asset class, except where specific supply impacts occur, such as in the iron ore market. Finally, it addresses the current state of the commodity super cycle and investment opportunities, noting the strong cash flow and low gearing of companies despite recent market softness.

Discuss the correlation between different commodities in the current market.

What factors contribute to the current opportunity set in the commodities market?