Mid-Year Commodity Outlook for 2026

What really moved commodity markets in H1?

In CRU’s Mid-Year Commodity Outlook for 2026, our analysts revisit the themes that defined the start of the year and assess how the landscape is evolving. From shifting policy and trade dynamics to rising geopolitical uncertainty, markets are adjusting to a more complex global environment.

The report will explore how recent developments, including conflict in the Middle East, are reshaping risk across commodity markets and influencing sentiment, supply chains and price direction. It also looks beyond near-term disruption to the longer-term themes emerging across the global economy.

CRU's analysis sets out what happened, what it means, and what comes next.