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2026-11-04 09:48:47 Jeff Currie, founder and CEO of Real Macro and a well-known figure in the oil market, has remained bullish on oil prices since the pandemic and further strengthened his bullish stance after the Iran crisis erupted this year. However, he is now telling investors that it is time to lock in profits on related trades in the near term, citing the sharp and rapid rise in oil prices as well as the destructive implications of escalating tensions in the Strait of Hormuz for both sides. Currie previously served as chief energy strategist at Carlyle Group and Goldman Sachs. Ahead of the midterm elections, he posted on X on Monday (2nd), explaining in detail how he distinguishes between short-term and long-term views on oil trades. He opined now is an optimal time to take profits on “prompt oil” (spot prices or near-dated futures contracts) and refined products, but still maintains that the “structural supercycle” supporting elevated energy prices remains intact. In addition, long-term trades or beneficiaries of high oil prices, such as drilling equipment, oilfield services companies, bypass transportation capacity, power and storage solutions, remain in an upcycle, he said. Currie recommended cashing out now mainly because an escalation would have catastrophic impacts on food and supply chains, meaning neither side will push forward, while a lasting agreement will also be difficult to achieve. He said Brent crude's 75% gain YTD already represents sufficient returns. In early Monday trading, Brent crude last quoted at USD106.45 per barrel. Oil prices lifted 1.6% that day after reports said the US had struck Iranian targets overnight. ~ AASTOCKS Financial News Website: www.aastocks.com | |