Inside Commodities

The U.S. has ascended to the role of the world's top oil exporter amid the U.S.-Iran war, altering global energy dynamics. Meanwhile, China's export controls on indium phosphide are creating significant headwinds for the global AI data center supply chain.

Key Takeaways

• 1.The U.S. has become the world's leading oil exporter due to record production and disruptions in Middle Eastern/Russian supply caused by the Iran war.
• 2.China is leveraging export controls on indium phosphide, a critical material for AI data centers, as a trade weapon against Western semiconductor industries.
• 3.Gunvor is expanding into U.S. shale gas production to capitalize on increased global demand for U.S. fossil fuels amid energy security shifts.

Table of Contents

• Top News - Oil
• ROI-Hormuz reopening could be OPEC's undoing: Bousso
• A BRUISED OPEC
• A BUMPY ROAD TO OVERSUPPLY
• Top News - Agriculture
• ANALYSIS-Thai farm debt crisis deepens in early test for Anutin's government
• 'CRISIS OF CONFIDENCE'
• 'NOTHING LEFT BUT DEBT'
• Bayer hopes to speed up biofuel feedstock plan amid Iran war energy crunch
• Top News - Metals
• FOCUS-China's control over indium phosphide exports threatens Al data centre rollout
• RIPPLE EFFECT
• CHINESE COMPETITORS
• ROI-Iron ore remains unaffected by Iran war, but China's May data baffles: Russell
• MAY DATA DISCREPANCY
• Top News - Carbon & Power
• EXCLUSIVE-Commodities trader Gunvor funds venture to buy US natural gas production
• LONG-TERM GAS BET
• EU agrees stronger price controls for new carbon market
• Top News - Dry Freight
• Jordan issues tender to buy up to 120,000 tons of wheat, traders say
• Jordan gets 6 participants so far in 120,000 metric ton barley tender, traders say