As the US midterm elections approach, the Republican Party is poised for significant losses amid rising discontent over affordability and foreign policy, particularly related to the ongoing Iran conflict, which has contributed to diesel prices surging by over 70 per cent.
The Democrats appear favored to gain control of the House, while tensions persist over electoral integrity. Concurrently, the Russo-Ukrainian war remains unresolved, as a brief ceasefire failed to yield long-term peace, impacting global oil prices, which have recently hit six-month highs.
Meanwhile, US soybean exports face an uphill battle due to tariffs and competition from Brazil, coupled with China's fluctuating demand, while the LNG market grapples with tight supply scenarios driven by geopolitical tensions in the Middle East.