A fragile peace, a reopening of the world’s most critical oil artery, and a 60-day window that could reshape global energy dynamics.

In this episode of Strait Talk, we dive into the newly signed US–Iran Memorandum of Understanding — a deal aimed at halting hostilities, reopening the Strait of Hormuz, and setting the stage for wider negotiations on sanctions and Iran’s nuclear programme.

Is this a turning point for markets — or just a temporary pause in tensions?

Join Tom Reed, VP – China, Crude & Oil Products, alongside Dubai-based experts Nader Itayim, Middle East Editor and Bachar Halabi, Senior Correspondent on this Strait Talk episode.

In this episode Argus analysts examine how data centre growth for artificial intelligence is driving demand in some of the most exposed minor metal markets. Materials like germanium and indium phosphide are playing a key role in data transfer devices and optical connections within data centres, while gallium nitride power electrics are increasingly deployed to improve energy efficiency. But supply of these metals has been restricted by export controls and geo-political instability just as demand is beginning to boom.

Topics discussed:

• The role of gallium nitride power electronics in AI data centre infrastructure and how the gallium market outside China could expand to meet demand.
• How germanium and indium phosphide are used in high-speed data transfer and optical connections within data centres and how these markets are affected by China’s export control policies.
• The supply constraints faced by the tantalum industry at a time when tantalum demand from the capacitor industry, chip makers, and energy sector is growing rapidly.

Listen to the latest episode of Metal Movers to gain insight into the Indonesian policies and global disruptions shaping the nickel and aluminium markets. Find out more:

• Nickel market tightening and its impact on prices

• Policy uncertainty in Indonesia

• Power competition between nickel and aluminium

• Geopolitical tension pose risks to feedstock supply