The HC Commodities Podcast
Paul Chapman, HC Group
For related content and to find out more about HC Group, a search firm dedicated to the energy & commodities sector, visit https://www.hcgroup.global
Each day, around the world, we have fascinating one-on-one conversations with our connections in the commodities sector. Our collaborators are uniquely informed, creative and inspirational in their fields. We want to provide our community a seat alongside us, listening in to these conversations in that special way podcasting provides as we tackle topical and people related issues with the leaders and leading minds in our sector. Visit www.hcgroup.global more information on us and our services.
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Each day, around the world, we have fascinating one-on-one conversations with our connections in the commodities sector. Our collaborators are uniquely informed, creative and inspirational in their fields. We want to provide our community a seat alongside us, listening in to these conversations in that special way podcasting provides as we tackle topical and people related issues with the leaders and leading minds in our sector. Visit www.hcgroup.global more information on us and our services.
To connect with our host Paul Chapman, you can find him at www.linkedin.com/in/paulchapmanhc/
Episodes
Mentioned books
Jan 28, 2026 • 1h 8min
The Great Repricing with Jeff Currie
Jeff Currie, commodities and macro markets expert now working in private markets at Carlisle, offers a sharp take on metals' surge versus weak hydrocarbons. He discusses whether apparent gluts are political illusions, the risk of a big macro repricing, tech firms becoming asset-heavy, and how policy and geopolitics have reshaped supply and markets.
Jan 22, 2026 • 2min
HC Group's Annual Review is Published (Download links in show notes)
https://interactive.hcgroup.global/annual-review-2025-26/full-view.html
Jan 21, 2026 • 50min
The Geo-Politicization of Natural Gas
What drives global natural gas prices more: power politics or supply and demand? In this episode, we discuss the geo-politicization of natural gas and the challenge that presents to traders and investors alike. Why was 2025 such a difficult year for traders? And what are the most consequential stories in natural gas for 2026? H Returning to the show is Anne-Sophie Corbeau, Global Research Scholar at the Center for Global Energy Policy.
Jan 14, 2026 • 54min
Competing to Trade with Roland Rechtsteiner
What is the future of commodity trading? Is volatility here to stay and thus the profit pools available continue to grow? What will the market structure look like in 10 years and who will be the privileged few that have built, or are building, commodity trading platforms to be able to capture that future? What will that future look like? Who will participate and which category of participant will have the greatest market share? And what will the teams and skill sets and people look like participating in that world? Our guest is Roland Rechsteiner, partner at McKinsey and the global head of their commodity trading and risk practice.
Jan 10, 2026 • 40min
The Donroe Doctrine and Commodities (emergency podcast) with Nick Kumleben
Emergency Pod: Nick Kumleben of Greenmantle, the geopolitical risk consultancy headed by Niall Ferguson, joins us to discuss the events in Venezuela, the 'Donroe' Doctrine and what it means for commodities. Is Venezuela an oil story or something else? Is the Donroe Doctrine a structured, intelligible set of principles or just a catchy phrase coined by a New York tabloid ? Intelligible or not, what does it mean for adversaries, allies (Denmark and Greenland?) and the rest of Latin America. Commodities once again sit at the heart of global power politics and it's through that lens we investigate. And what in turn does it mean for commodity markets themselves... can they withstand such unpredictability and government interventions.
Jan 7, 2026 • 55min
Coffee & Cocoa's Wild Ride with Kona Haque
Today, we are talking coffee, cocoa and sugar. And in the case of coffee and cocoa, the absolute wild ride they had in 2025.Record prices and extreme volatility. Was it all just a story of tariffs? Or is there something more fundamental going on? Our guest is Kona Haque. Head of Research for ED&F Man, one of the world's largest soft commodity traders that has recently been acquired by Hartree Partners
Dec 24, 2025 • 56min
Seizures, Search Warrants, and Sanctions: The blockade of Venezuela’s Dark Fleet Webinar by Deep Blue Intelligence
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 administration’s seizure of the Centuries and Bella 1, two other Dark Fleet tankers, on December 20th and 21st respectively.https://www.polestarglobal.com/deep-blue-intelligence/
Dec 17, 2025 • 1h 2min
The Big Picture with David Fyfe
David Fyfe, Chief Economist at Argus, shares insights into the evolving macro-economic landscape as we near 2026. He discusses the surprising impact of US tariffs on global trade and the looming inflationary effects they might bring. There's a deep dive into AI's influence on equity gains and how fiscal risks could shape macro markets. The conversation also highlights Europe's sluggish growth and China's property sector troubles. Fyfe warns about a potential supply surplus from OPEC+ and underscores the urgent need for upstream investment to meet future energy demands.
Dec 10, 2025 • 54min
The State of Oil with Homayoun Falakshahi
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.
Dec 3, 2025 • 51min
Trading in Asia with Iain Lawson
Ian Lawson, a senior advisor at Baringa with decades in the commodity trading space, dives into the dynamics of trading in Singapore. He discusses why the city remains a central hub, its unique regulations, and the vital role of talent and a common law framework. Lawson explores the impact of regional gray markets and how Asia's fragmentation contrasts with Western networks. He also delves into LNG’s evolution, power market challenges, and the crucial interplay of personal relationships in deal-making across diverse cultures in Asia.
