Commodities in the new geopolitical age

As critical resources move further into the geopolitical spotlight, explore how foreign policy, stockpiling, and supply chain disruption are changing the way commodities are priced, traded, and understood.

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Highlights

Commodities markets are increasingly shaped by geopolitics, as conflicts, tariffs, and a more interventionist U.S. policy approach intensify the race to secure strategic resources and protect supply chains. This volatility is reshaping pricing and liquidity, making it harder for investors to separate market fundamentals from geopolitical noise.

8%

of traders cited global trade tensions as the biggest market driver in 2021.1

41%

of traders expect geopolitical tensions to have the biggest market impact in 2026.2

13%

of traders expect interest rate policies to have the biggest market impact in 2026.3

“Oil is a great example of a market that is so well telegraphed to be incredibly oversupplied and structurally bearish. Yet the market isn’t trading as such, because of the geopolitical risk that people are doing their best to assess.” 

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Mischa-Von-Derek Aikman

Markets and Economy

The Rush for Resources

Sep 02, 2026

How rising geopolitical tensions are driving the strategic control of commodities and rewriting the playbook

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Mischa-Von-Derek Aikman

8:49 - Markets and Economy

Commodities in a changing geopolitical landscape

Sep 02, 2026

Mischa-Von-Derek Aikman, Head of Commodities Institutional Sales for the Americas at J.P. Morgan, discusses how global tensions are changing the commodities landscape—and what it means for investors navigating increasingly volatile markets.

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Draw on expert analysis, discussions, and data-led perspectives to go deeper into the themes shaping institutional markets. Do more, as you challenge assumptions, connect signals, benchmark your view, and turn deeper understanding into sharper ideas and more informed decisions.

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References

1.

J.P Morgan Markets e-Trading Survey 2021

2.

J.P Morgan Markets e-Trading Survey 2026

3.

J.P Morgan Markets e-Trading Survey 2026