Commodities in ‘super-squeeze’ as Hormuz risks build, HSBC says

Published June 2, 2026 Updated June 2, 2026 12:05pm

Commodities are in a “super-squeeze” that will worsen if the Strait of Hormuz remains effectively shut, according to HSBC Holdings Plc, Bloomberg reports.

“The longer the strait is closed, the more inventories are run down, the more likely it is that we reach ‘tipping points’ in the markets for some commodities,” analysts including Paul Bloxham said in a June 1 report.