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Charlie Bilello, chief market strategist at Creative Planning, highlights sharp price increases in key commodities since the start of the Iran war.
According to Bilello, European natural gas has risen 143 percent, while sulfur is up 110 percent. Other notable moves include heating oil up 78 percent, jet fuel up 62 percent, diesel up 57 percent, and rice up 49 percent. Increases were also seen in WTI crude oil, gasoline, cotton, sugar, wheat, palm oil, and corn.
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Bilello has previously discussed the impact of policy moves on economic growth, cautioning that excessive stimulus could raise inflation risks in the U.S. as highlighted in his analysis of President Trump’s GDP growth suggestions. He also observed that the 30-year Treasury yield reached 5.3 percent following Fed rate cuts in September 2024, as detailed in his report on recent developments in Treasury yields. These perspectives provide additional context to the recent surge in commodity prices.