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See what is moving commodities before price confirms it

Turn global reporting into structured commodity intelligence – with live and historical asset and contract-level indices, driver signals, events and source-level evidence across energy, metals and agriculture.

Built for systematic research, market monitoring, cross-commodity analysis and institutional workflows.

Permutable visualisation showing Brent crude topic sentiment driver rank trajectories across geopolitical tensions, inventories, forecasts and trade restrictions.
  • Detect supply and demand disruption in real time before volatility accelerates
  • Track geopolitical, macro, and narrative drivers shaping commodity repricing
  • Identify structural commodity repricing before consensus positioning develops

  • 250k

    global sources

  • 30+

    commodity assets

  • 11+

    years point-in-time history

  • 260 +

    energy indices

See the signals

See the signals behind commodity repricing

Commodity markets respond to different combinations of physical supply, demand, inventories, policy, weather and geopolitical risk. Permutable applies a consistent intelligence structure across markets while preserving the distinct drivers of each commodity.

Identifying which forces are shaping Brent

Permutable separates Brent market pressure across supply, inventories, OPEC policy, geopolitical risk, trade restrictions and demand. The view shows which drivers are gaining or losing influence rather than reducing the market to one aggregate oil-sentiment score.

Signals shown: Brent price, geopolitical tensions, inventories, supply, forecasts and trade restrictions

Permutable visualisation showing 90-day Brent crude driver rank trajectories for geopolitical tensions, inventories, refinery storage, forecasts and trade restrictions.
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What commodity-market teams say about Permutable

Global commodity trading house “The useful part is being able to see what sits behind the move. Permutable links the commodity signal back to the drivers, events and sources, which makes it easier to judge whether the move has real support.”
European asset manager “Permutable gave us more confidence to stay in the silver trade. The price action was noisy, but the underlying signals still pointed to support from investment demand and macro policy.”
Multi-strategy hedge fund “Permutable helped us see when a commodity story was becoming more persistent. The market often reacts first to the headline, but the trade depends on whether the driver keeps building.”

Commodity market newsflow, structured for institutional workflows

What is measured? What explains the move? How is it used?
Asset, contract and driver-level indices Supply, demand, inventories, production, weather, infrastructure, shipping, trade, policy, sanctions and geopolitics Research, monitoring, systematic models and risk workflows
Direction and magnitude Source-linked events and story development Historical replay, alerts, API, Excel and data feeds
Energy, metals and agricultural markets Narrative persistence, cross-commodity divergence and market transmission Portfolio analysis, scenario testing and custom configurations
Explore commodity signals

Explore commodity intelligence by market

Commodity market-driver coverage

  • Supply and production

    Production, mine and field disruption, crop conditions, refinery and smelter activity.

  • Demand and consumption

    Industrial, consumer, import, export, biofuel and feed demand.

  • Inventories and infrastructure

    Storage, inventories, pipelines, terminals, refining capacity and logistics.

  • Trade and shipping

    Shipping, freight, trade flows, restrictions and sanctions.

  • Policy and geopolitics

    Producer policy, regulation, geopolitical risk and labour action.

  • Macro and financial conditions

    Inflation, monetary policy, FX, rates, growth expectations and risk appetite.

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Tested in live commodity markets

Across a 16-month live commodities futures experiment, a balanced long/short strategy trading highly liquid front-month contracts across energy, agriculture and metals delivered a 28.54% total return, 20.86% annualised return, 7.01% annualised volatility and a −2.95% maximum drawdown.

The results reflect one defined implementation of Permutable’s sentiment signals under fixed portfolio and risk rules, rather than the expected performance of the underlying data in every application. Get in touch for the full methodology, including contract selection, signal timing, position sizing, rebalancing, roll treatment, costs and risk controls.

  • Dark-themed performance comparison chart showing Permutable's Live Strategy, Bloomberg Commodities Index, and S&P 500 from October 2024 to February 2026. The Permutable strategy, displayed in bright cyan, outperforms the Bloomberg Commodities Index and closely tracks the S&P 500, ending with approximately 24% returns. The chart includes a marker highlighting the 12-month anniversary since launch and demonstrates the effectiveness of AI-powered market intelligence and narrative-driven trading signals.
  • Dark-themed performance comparison chart showing Permutable's Live Strategy, Bloomberg Commodities Index, and S&P 500 from October 2024 to February 2026. The Permutable strategy, displayed in bright cyan, outperforms the Bloomberg Commodities Index and closely tracks the S&P 500, ending with approximately 24% returns. The chart includes a marker highlighting the 12-month anniversary since launch and demonstrates the effectiveness of AI-powered market intelligence and narrative-driven trading signals.
  • Dark-themed performance comparison chart showing Permutable's Live Strategy, Bloomberg Commodities Index, and S&P 500 from October 2024 to February 2026. The Permutable strategy, displayed in bright cyan, outperforms the Bloomberg Commodities Index and closely tracks the S&P 500, ending with approximately 24% returns. The chart includes a marker highlighting the 12-month anniversary since launch and demonstrates the effectiveness of AI-powered market intelligence and narrative-driven trading signals.
View results

Choose the intelligence your workflow requires

Capability Indices and signals Events and sources Custom commodity intelligence
Energy, metals and agricultural signals ✓ ✓ ✓
Asset and contract-level intelligence ✓ ✓ ✓
Driver-level intelligence ✓ ✓ ✓
Live updates ✓ ✓ ✓
Historical point-in-time series ✓ ✓ ✓
Underlying event records ✓ ✓
Source-linked observations ✓ ✓
Custom assets, contracts and driver views ✓
API, Excel and files ✓ ✓ ✓
Explore API delivery

Recognised for innovation in commodity market intelligence

  • Permutable announces its Hedgeweek European Innovation Award 2026 win for narrative intelligence, featuring a digital market intelligence backdrop and award trophy.
  • Permutable announces its Hedgeweek European Innovation Award 2026 win for narrative intelligence, featuring a digital market intelligence backdrop and award trophy.
  • Permutable announces its Hedgeweek European Innovation Award 2026 win for narrative intelligence, featuring a digital market intelligence backdrop and award trophy.
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FAQs

  • What does the commodity dataset contain?

    Permutable provides historical and live asset-level indices, driver signals, event records, narrative data and source metadata. The dataset captures changing pressure across supply, demand, inventories, infrastructure, policy, geopolitics, weather, shipping and wider macroeconomic conditions.

  • Which commodities, contracts and drivers are covered?

    Coverage spans energy, metals and agriculture, including Brent and WTI crude, refined products, Henry Hub, TTF, LNG, gold, silver, copper, aluminium, iron ore, steel, wheat, corn, soybeans, cocoa, coffee and sugar. Driver coverage includes production, consumption, inventories, trade, transport, weather, policy, geopolitical risk and macroeconomic demand.

  • How far back does the point-in-time history extend?

    Most commodity intelligence is available with more than 11 years of point-in-time history. Each observation preserves the information available at the time, supporting historical research and backtesting without introducing later reporting or revised interpretations.

  • How is Permutable different from generic news sentiment?

    Permutable goes beyond positive and negative media tone. It identifies the direction, strength and persistence of specific market drivers, maps them to individual commodities and separates forces such as supply, demand, inventories, policy and geopolitical risk. Signals can also be traced to the events and sources beneath them.

  • Can users inspect the events and sources behind a signal?

    Yes. Users can move from an asset-level signal to its contributing drivers, events, narratives and underlying sources. Source records preserve publication time, language, entity mappings and relevant context, supporting validation and explainable research.

  • How is the data delivered and integrated?

    Historical and live intelligence can be delivered through API, Excel, structured files, institutional feeds or customised integrations. The same point-in-time structures can be used across quantitative research, discretionary monitoring, model development and production workflows.

  • Can institutions evaluate sample data before licensing?

    Yes. Institutions can request sample signals and supporting documentation for relevant commodities, drivers and time periods. Permutable can also discuss evaluation requirements, integration options and how the data could fit an existing trading, research or risk workflow.