Oil Prices Will Rise After US-Iran Deal, Says Former Goldman Sachs Commodities Head Jeff Currie

Oil Prices Will Rise After US-Iran Deal, Says Former Goldman Sachs Commodities Head Jeff Currie

The Iran deal sent stocks flying and crude lower. Jeff Currie, Goldman’s former global commodity chief for 27 years, says the market has it completely wrong.

Maersk and Mitsui will not take ships back into the Gulf. Mine demining has not started. Israel and Gulf states were not party to the deal. Both sides are claiming contradictory victories. Six to eight weeks minimum before shipping resumes after demining. The pent up buyer strike means crude rallies on a signed deal, not drops. And inventories keep drawing in the interim.

Gold hit $4,000 last week. Jeff says stay short until central banks signal rate cuts. Long term target when that moment comes: potentially double the previous high of $5,500.

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Chapters
0:00 Iran deal dynamics: buyer strike and pent up demand
1:19 Why crude could rally when the deal is signed
1:35 60 million barrels in the Gulf: only 10 days of supply
2:08 Ships are not going back: Maersk and Mitsui
2:27 Both sides claiming victory with contradictory claims
3:14 Mines demining and the six to eight week timeline
4:05 Do markets believe this deal when corporates do not?
4:45 Inventory draw and the case for higher crude
5:13 FOMC implications: Kevin Warsh and rate hike risk
6:24 AI buildout: inflationary now deflationary later
9:41 Stock market rally on the deal: setting up for disappointment
10:19 Demand destruction: emerging markets first
11:13 End game: US oil prices spike and shut off global supply
11:40 Gold: Jeff was short. Here is why
12:36 When to go long gold again
12:53 Long term gold target: potentially double from $5,500

#JeffCurrie #CrudeOil #IranDeal #Gold #tastylive #TradingTrends #Commodities #Goldman

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