Physical premia, spot distortions and horror stories

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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You can email Robert Armstrong and Katie Martin at unhedged@ft.com.

Read a transcript of this episode on FT.com

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