Global commodities trader Trafigura indicated that the recent banking crisis would not have a knock-on effect on commodities. However, Brent crude oil price hit its lowest since 2021 last week on fears bank failures could trigger a global recession and slash fuel demand.

Bank interest in commodity trade finance will not wane after the Credit Suisse takeover. Trafigura has recently raised nearly US$5 billion and secured several energy and metals deals involving export credit agencies in Germany and Italy.