LSEG Data & Analytics
May 21, 2026
Inside Commodities
Weekly UpdateCommoditiesMacro Economic IndicatorsEnergyConsumer Staples
The May 2026 report highlights critical supply disruptions across commodities caused by the Iran war, Ukrainian drone strikes on Russian refineries, and a severe US drought. Simultaneously, it notes a strategic shift in China toward unconventional gas and a recovery in chocolate quality following a cocoa price crash.
Key Takeaways
- 1.The ongoing war with Iran is severely disrupting global commodity supply chains, specifically hitting Saudi natural gas output, Gulf aluminum production, and US farming costs.
- 2.China is aggressively pursuing 'coal rock gas' (CRG) using fracking technology to achieve energy independence and insulate its economy from geopolitical disruptions.
- 3.A 70% collapse in cocoa prices since late 2024 is prompting major chocolate makers like Hershey to return to traditional recipes with higher cocoa content.
Table of Contents
- Top News - Oil
- Top News - Agriculture
- Top News - Metals
- Top News - Carbon & Power
- Top News - Dry Freight
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Authors
Dhanya
Securities
857Saudi AramcoHSYBarry CallebautBrent Crude
Themes
Geopolitical Disruption of Energy SupplyEnergy Independence via Technology (Fracking)Climate Change and Crop FailureStrategic Resource Stockpiling
Regions
North AmericaEuropeMiddle EastUnited StatesRussiaChina