Video
The Impact of Oil and Copper on Portfolios
Curtis Diaz, CFP
Oil near $100. Copper at record highs. Sharp moves in commodities have dominated headlines in 2026.
In this market and economic update, we break down the big price swings in oil and copper, what is driving them, and what they mean for long-term investors. The real question is not where prices go next week. It is what these markets signal about the broader economy and how they fit inside a well-constructed portfolio.
What we cover:
- Oil volatility tied to Middle East tensions, including recent Houthi strikes on Saudi energy infrastructure, Brent crude moving back toward $100, and the impact at the pump (national average around $4.15 for regular, premium above $5)
- Why elevated energy prices matter for inflation (energy is more than 7% of the CPI) and how today’s geopolitical driver differs from past cycles
- U.S. oil production above 13.8 million barrels per day and what that insulation means
- Copper’s record run as “Dr. Copper,” fueled by potential Section 232 tariffs on refined copper and structural demand from AI data centers
- The classic supply-demand mismatch that creates large commodity swings
- Parallels with earlier moves in gold and silver
- Commodities as an asset class: year-to-date leadership from the Bloomberg Commodities Index, historical up-and-down performance, and how energy strength has helped the S&P 500
- Why other areas (emerging markets, small caps, U.S. equities) have also delivered solid returns this year
- The portfolio perspective: staying focused on long-term goals instead of any single commodity headline
Commodities can lead one year and lag the next. Geopolitics, trade policy, and technology-driven demand will keep creating both opportunity and noise. A diversified portfolio is built to navigate these interconnected trends while managing risk.
We hope you find the discussion useful. If you would like to talk through commodity exposure, portfolio positioning, or how these trends may affect your financial plan, reach out anytime. We look forward to speaking with you.
