Commodity markets are entering a new phase of disruption as the Strait of Hormuz crisis spreads beyond crude oil into metals, fertilizers, agriculture, and shipping. In today’s episode, Emily Costa examines how nearly one billion barrels of lost crude supply is reshaping global trade, why platinum shortages are persisting despite weaker auto demand, how China and the United States are negotiating new agricultural purchases, and why Gulf aluminum producers are reorganizing operations around new shipping realities. The episode also explores the growing political importance of ethanol policy, tightening fertilizer supplies, and the rising economic risks tied to prolonged maritime disruption

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