• ARTICLECommodities in 2026: 10 Numbers to Watch From Power to OilCommodities ARTICLECommodities in 2026: 10 Numbers to Watch From Power to OilCommodities ARTICLE Commodities in 2026: 10 Numbers to Watch From Power to Oil Commodities January 15, 2026 January 15, 2026 Executive SummaryCommodity markets have had a turbulent year with sanctions, wars and new administrations rewiring markets. • As 2026 begins, the following numbers are a snapshot of what the BloombergNEF Commodities, Energy and Environmental Markets teams think will be the most important topics to watch. • Executive Summary Commodity markets have had a turbulent year with sanctions, wars and new administrations rewiring markets. • As 2026 begins, the following numbers are a snapshot of what the BloombergNEF Commodities, Energy and Environmental Markets teams think will be the most important topics to watch. • +0.5°CThe Niño 3.4 temperature anomaly for June-August 20261.07 billion gallonsRenewable fuels production capacity announced in China for 2026¥11.4 per kilowatt-hourAverage baseload Japan power price for 2026Metals- 1 million metric tons. • The copper supply and demand balance swings by 1 million metric tons into a deficit, as data centers and electric vehicles drive demand.Japan power- ¥11.4 per kilowatt-hour.

Article Summaries:

  • Commodities in 2026: Key Numbers to Watch

BloombergNEF highlights 10 pivotal figures for 2026, underscoring the impact of geopolitical shifts, climate trends, and technology demand. A +0.5 °C Niño anomaly could affect natural‑gas demand, while China’s record 1.07 billion gallons of renewable‑fuel capacity will reshape global supply chains. Japan’s average baseload power price is projected to fall to ¥11.4/kWh, easing industrial costs but stressing generators. EU carbon prices are expected to rise to €87/ton amid tighter allowance supply. Copper demand will swing into a 1 million‑ton deficit, driven by EVs and data centers, raising supply‑chain risks. LNG and petrochemical expansions, US power demand from data centers, and a slowing US oil growth round out the outlook.

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