Trading disruption
4/21/202624 min
Today on the show, Rob Armstrong reports from the FT Commodities Global Summit 2026, where hundreds of traders gathered to share war stories about one of the wildest markets in decades. Also, they go long volatility and long honesty about plans to control the world.
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First 90 secondsKatie Martin· Host0:00
[upbeat music] Pushkin. Lausanne, Switzerland, it looks like a pretty place, a hilly city, Wikipedia informs me, on the shores of Lake Geneva. Why am I banging on about it? Well, aside from its beautiful views and classical architecture, it's also home or near home for a lot of the top executives and traders in the commodities industry. If it's oil or gas or really anything that comes out of the ground and then gets bought or sold for billions of dollars at a stroke, then it matters in this part of the world, which is why the FT holds an annual commodities conference there, and that's underway as we speak with perfect timing as we all try and figure out exactly how much to freak out about everyone's favorite stretch of water, the Strait of Hormuz, AKA, if you listened last time, the Strait of the Muth. [upbeat music] Now, listeners, [laughs] [laughs] Let's find out how badly hardcore commodities traders are losing their cool about the slowly unfolding endless nightmare in the Middle East. This is Unhedged, the markets and finance podcast from the Financial Times and Pushkin. I'm Katie Martin, a markets columnist at the FT in London, which has a tube strike on, which is very boring. And I'm joined by phone by Robert Armstrong, our man in Lausanne. It's a tough assignment, ladies and gents- [laughs] ... but he is up, he's up for the task.