For a special episode we have the recording of a webinar, David Tannenbaum, the Director of Deep Blue Intelligence, and Carmella O’Hanlon from Blank Rome, discuss the US Coast Guard’s seizure of the Skipper, a Dark Fleet vessel, the legal basis underpinning it, and how the administration can enact a “blockade” of Venezuelan oil. They also discuss examples of typologies and red flags relating to Venezuela’s Dark Fleet, a what comes next. Please note: This taping occurred prior to the administrati...
Dec 24, 2025•56 min
As we come toward the end of the year, what is the global macro-economic picture. What have been the key themes in 2025 and how have they manifested in energy and commodity markets? And what can we divine about 2026? Are we in for stagflation? Boring commodity markets or is this the calm before the storm….? Our guest is David Fyfe, Chief Economist of Argus, the independent energy & commodity price reporting agency and intelligence firm. For related content and to find out more about HC Group...
Dec 17, 2025•1 hr 2 min•Ep. 283
As we begin to wrap up the year, we return to the crude markets. What has been oil’s journey in the latter half of 2025? What has all this meant for trader performances after a challenging first half? What is the outlook for 2026 in prices and volatility? Our guest is Homayoun Falakshahi. He leads crude analytics at Kpler, the data and analytics firm for the commodity markets. For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector,...
Dec 10, 2025•54 min•Ep. 282
In this episode we return to Singapore and commodity trading in Asia. Is Singapore still a must -have hub as part of a global commodity footprint? What are the key commodities traded there? How do those markets differ from Europe and North America? How has the broader Asia-Pacific region fared over the last decade? And what are some of the key challenges, both market and cultural to doing there? And what might the future hold? Our guest is Ian Lawson, who's had a multi -decade career in trading ...
Dec 03, 2025•51 min•Ep. 281
Today, in time for the US Thanksgiving, we discuss wine. From rare Burgundies to commodity wine that is shipped in containers and blended. What is wine? How is it made? What is the market structure and how has that changed with internationalization, changing tastes and climate change. And why is English wine ascendant? Our guest is Nick Brewer, former COO of Noble Group and ECTP and now founder and owner of Oastbrook Winery (where you can stock up for Christmas here https://oastbrook.com/online-...
Nov 26, 2025•59 min•Ep. 280
Today, we are talking agricultural markets and the case for investing in agricultural commodities, particularly in ETFS. And why that case is enhanced in the volatile world of today and the perhaps much more volatile world of the future. Our guest is Jake Hanley, Managing Director at Teucrium, a US -based ETF issuer with a specialisation in agricultural commodities. For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit http...
Nov 19, 2025•50 min•Ep. 279
Why don’t more energy & resource companies have trading arms? For that matter, why don’t more sectors trade? Chips, drugs even real estate? Why are CEOs reticent to set up trading platforms and what are the barriers to entry? What sectors would benefit most from trading? And more broadly, how have those firms who have launched trading arms in the energy and commodities trading sector fared over the last five years? How has this development both changed and shaped the opportunities out there?...
Nov 12, 2025•56 min•Ep. 278
In Part 2, Mark Crandall relives the events that led to the founding of Glencore and Trafigura. Why did Claude Dauphin go his separate way and what was the founding vision for Trafigura? How had Marc Rich already set the vision for the trading houses which would lead to their domination? How has that dominance led to almost insurmountable barriers to entry for aspiring competitors today? And what was it about these singular individuals that led to their success? For related content and to find o...
Nov 05, 2025•1 hr 3 min•Ep. 277
Our Global Our Middle & Back Office Salary Report 2025 is now available for purchase. Published by HC Group's Talent Intelligence team. the report covers salary benchmarks for Risk, Legal & Compliance, Corporate Finance (includes STF/Treasury), Finance & Accounting,Technology & Human Resources positions across all commodity trading hubs. The report, created using proprietary data, is designed for HR leaders and company officers to calibrate salaries in this competitive market as ...
Oct 31, 2025•3 min
Today, we're joined by Mark Crandall, one of the founding fathers of the modern trading house and the commodities sector as we know it today. Mark started his career at Morgan Stanley, where he helped launch its commodities desk, before joining Marc Rich & Co. Mark went on the have a pivotal role in, and ring-side seat to, the machinations that lead to the founding of Glencore and Trafigura. In Part 1, we cover his early career leading up to the famous split at Marc Rich & Co. We discuss...
Oct 29, 2025•53 min•Ep. 276
On October 1st, at HC Group’s Headquarters in London, host Paul Chapman interviewed Colin Bryce and Adi Imsirovic about their new book – Rivers of Money - in front of an invited audience of 100 friends, former colleagues and industry veterans. Why did they write the book, what stories and insights stand out and who received a pickled pig’s head at their desk (it later transpired the sender was in the audience)? Which other stories had to be left on the cutting room floor and what are the biggest...
Oct 21, 2025•31 min•Ep. 275
HC Groups’s Q3 Market Review is available to download here: https://www.hcgroup.global/insights/market-reviews/access-market-review-q3-2025 400+ notable people moves. An editorial by podcast host Paul Chapman on US talent in turbulent year to date. Articles on APAC liquid fuel trends and how participants are recruiting and training Gen Z and much more. You can also download www.hyperionsearch.com Cleantech and renewables review here: https://interactive.hcgroup.global/hyperion-search-market-revi...
Oct 16, 2025•2 min
Today, we are joined by the award -winning author Mark Kurlansky, whose books such as The Big Oyster, Paper, Salt and Cod tell us how commodities have shaped history and in turn the present day. Why commodities sit at the very heart of human history creating cooperation, trade but also war. Mark shares his views on the books and how they fit in with the current world, his views and philosophy on free trade, and how that might be in jeopardy and what his future books porjects are. For related con...
Oct 14, 2025•42 min•Ep. 274
The HC Commodities Podcast was invited to host a panel at the excellent Argus Global Markets Conference in London on September 30. We discussed how the commodities world is adapting trading strategies to markets now driven by Truths Socials, algorithmic sentiment, shifting geopolitics and increasing government intervention. A world where the fundamentals of supply and demand are only part of the picture. Is this new or just a reversion to a more normal world? Is it cyclical or structural? What d...
Oct 07, 2025•44 min•Ep. 273
What actually is systematic trading and the capabilities behind it? How can it generate returns? How can it inform the broader trading desks and organization's decision making? How is it delivering a competitive advantage and strategic edge to companies behind those returns? What have been the developments over the last couple of years? And how is such trading shaping the markets themselves? Our guest is Hans Balgobin, who has had a career as a systematic trader and building systematic trading p...
Sep 30, 2025•1 hr 15 min•Ep. 272
Recorded at the Canadian Crude Oil Conference in the wonderful Lake Louise in Canada on 17th September 2025, Randy Ollenberger of BMO Capital Markets, dives into global oil fundamentals, Canadian crude production in a changing world and what that means for oil and gas equities. Sanctions, tariffs, pipeline expansions and Canadian politicians (reacting to a very different relationship with the US meant) has led to profound changes and opportunities in this once quiet sector. Our sincere thanks to...
Sep 23, 2025•51 min•Ep. 271
In this episode, we tackle disputes, arbitration, and the challenges of navigating a fractious commodities world. Energy and natural resources have always sat at the heart of international transactions and, in today’s more volatile climate, disputes are arising more frequently. What happens in international contract disputes? What is international arbitration? And how can companies best mitigate the risks upfront? What are the most effective strategies for handling disputes and arbitrations once...
Sep 16, 2025•49 min•Ep. 270
As we enter the planning season, we consider why business planning in the commodity sector is so challenging. And how uncertainty and a more volatile world has made it even more so? What can organizations do to build in resiliency and flexibility into planning and what tools are available to better manage the downsides and also capture opportunities? Our guest is Savvas Manousos. Savas has spent a long career building and running trading platforms and is now a partner at Enco Insights, a global ...
Sep 09, 2025•56 min•Ep. 269
Today, we return to the subject of investing in the global commodities markets. What are the key narratives out there on Main Street, Wall street and K Street and how are they shaping opportunities? How can you sort narrative from thesis? How does policy volatility and geopolitical volatility impact investments? And in a potential return to 1970s -style stagflation, what does that mean for commodities and portfolio theory? Our guest is Shaia Hosseinzadeh, Founder and Chief Investment officer of ...
Sep 02, 2025•1 hr•Ep. 268
Colin Bryce joins us to discuss ‘The Rivers of Money: Social and Economic History of Modern Oil Trading’, which he co-authored with Adi Imsirovic. Both authors participated in oil trading during its pivotal years and through knowledge of the industry, experience and contacts bring to life this period in rich detail creating a unique book, blending reportage and economic history. Why did London become the epicenter of physical oil trading? Why did Wall St look so different? Why did Singapore beco...
Aug 26, 2025•47 min•Ep. 267
Today, we discuss three critical minerals to illustrate, and challenge or reinforce the common narratives out there, the intractable problems those supply chains face - even with projected soaring future demand. And consequently, the influence these elements have on geopolitics and economics. Influence that is only growing. We're talking Yttrium, Rhenium and Graphite and each one tells a different story about our modern economy about the critical mineral supply chain and pricing and some of that...
Aug 19, 2025•46 min•Ep. 266
Today, we're joined by Doomberg, the most popular energy and commodity focused sub-stack. He and his team publish over 90 articles a year on the intersection of global energy and commodity policy, geopolitics, risk and technology. Today, it's Doomberg unleashed. How close are we to World War III? Are we already in it? What does that mean for the energy and commodity supply chains. How sanctions and tariffs not only reshape global commodity flows, but also weaken the West, and what the “One Big B...
Aug 12, 2025•1 hr 3 min•Ep. 265
Chip War: How semiconductors became the new oil with Chris Miller Semi-conductors, microchips, are the new oil - the scarce resource on which the modern world depends. Today, military, economic, and geopolitical power are built on a foundation of computer chips. This has only accelerated with the emergence of AI. Yet, the supply chain is incredibly concentrated with just a handful of countries and companies dominating. As with oil in the previous century, chips sit at the center of geopolitics, ...
Aug 05, 2025•55 min•Ep. 264
Today, we do a deep dive into the role and challenges of a transaction lawyer in the energy transition. And why lawyering in the energy transition is lawyering on hard mode? What are the sources of complexity? What are the pain points about getting a project developed? How has current policy volatility impacted the energy transition particularly in the US? And what might the future hold? Our guest is Daniel Anziska.Daniel is an infrastructure and regulatory lawyer and partner at Troutman Pepper ...
Jul 29, 2025•48 min•Ep. 263
Today, we investigate the intersection of the energy transition, critical minerals and defense. As with commodities, warfare is also going through rapid and profound change, with the electrification of defense over the last 20 year. Batteries proliferate the battlefield and the energy transition is impacting national security. We are seeing the shift from capital assets to small, cheap weapons such as drones that can have profound impacts. This poses a particular problem for the US, where energy...
Jul 22, 2025•48 min•Ep. 262
In this episode, we discuss the impact of conflict and war on commodities markets through the lens of a brand new book by Dennis Voznesenski: War and Wheat. Dennis is an agricultural economist at the Commonwealth Bank of Australia and prior to that at Rabobank. Thoroughly researched, War and Wheat tells the story of how the agricultural markets fared during World War I, World War II and the recent Russian invasion of Ukraine and elucidates key learnings on how commodity markets function and how ...
Jul 15, 2025•46 min•Ep. 261
HC Group's Q2 Market Review - our quarterly magazine covering people trends, moves and analysis from within the global energy & commodities sector is available for download. Visit: https://www.hcgroup.global/insights/market-reviews/access-market-review-q2-2025 Likewise you can download Hyperion Search's clean tech and renewables here: https://hyperionsearch.com/ For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit http...
Jul 15, 2025•5 min
In 2024 the Lithium market saw huge price drops related to oversupply, a slowing EV adoption rate globally, as well as macroeconomic headwinds. Is this a pause or a more structural challenge? What is the long-term demand picture? How does geopolitics fit within that? Does technological change threaten the outlook? And in such a volatile market, why is risk management essential? Our guest is Caspar Rawles, Chief Operating Officer at Benchmark, the Independent Price Reporting Agency for Critical M...
Jul 08, 2025•36 min•Ep. 260
Today, we return to the subject of commodity supply chain policy, permitting and regulation and policy in the US, with the One Big Beautiful Bill going through reconciliation. Less public, but no less momentous, we cover the Seven County Infrastructure Supreme Court decision, which may herald Sea change in how new energy and mining projects can get underway to meet both the growing energy demand but also the need for robust and resilient supply chains in the energy transition. Returning to the s...
Jul 01, 2025•45 min•Ep. 259
Today, we return to the subject of investing in commodities, this time from an equities angle. How has the sector performed over the last couple of decades and how much diversification does it offer? How do you analyze and discover value in the sector? And are investors returning and how best to navigate investing in such a rapidly evolving sector? Our guest is Matt Zabloski, founder and chief investment officer of Delbrook Capital Advisors, a Vancouver-based fund manager, focused on alternative...
Jun 24, 2025•46 min•Ep. 258
