LSEG
February 5, 2026
Inside Commodities
Weekly UpdateCommoditiesEquitiesMacro Economic IndicatorsConsumer StaplesEnergy
A comprehensive update on global commodity markets highlighting US-led efforts to decouple India from Russian oil and establish a critical minerals trade bloc to counter China.
Key Takeaways
- 1.Trump's trade deal with India aims to eliminate Russian oil imports, potentially causing a significant drop in Moscow's revenue as India is its top seaborne export purchaser.
- 2.The US is proposing a critical minerals trade bloc with allies to counter China's dominance in the processing of materials for semiconductors and EVs.
- 3.Japan is shifting back to long-term energy security strategies, evidenced by a 27-year LNG supply deal between JERA and QatarEnergy.
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
Rio TintoGlencoreMPGazprom
Themes
Critical Minerals HegemonyEnergy Security DiversificationGeopolitical Weaponization of Commodities
Regions
GlobalAsia PacificNorth AmericaUnited StatesIndiaRussia