We know what’s coming and we are prepared.
🛢 Oil Markets Are Dangerously Complacent About What’s Coming — Commodities Veteran Jeff Currie
Jeff Currie, former Goldman Sachs global head of commodities research and now senior adviser at Carlyle, warns financial markets are catastrophically underestimating the oil crisis building beneath the Iran war.
📌 “You’re borrowing oil from the future”:
“There’s a big difference between a deficit and a shortage. We’re in a deficit. Demand is above supply. We are drawing inventories.”
U.S. distillate inventories have already fallen to 102 days of supply from 120 just weeks ago. Gulf Coast tank bottoms sit around 200–220 million barrels. “If you get below 220, you’re already in a pretty tricky situation. We’re not that far away.”
📌 “You’re going to have to feel it”:
Currie says the inflection point where deficit becomes outright shortage could arrive within days: “If you’re at 102, you’re going to feel it like any day.”
đź“Ś The Strait of Hormuz may not be forceable open:
“All you need is a guy with a rocket launcher and some drones. There’s no way you’re gonna force that thing open.”
He pointed to the Red Sea, where after two years of bombing Yemen, shipping traffic remains down roughly 75%.
📌 “The whole Bretton Woods architecture is done”:
Currie argues the closure of Hormuz shatters the core bargain underpinning dollar dominance: U.S. protection of global trade routes in exchange for the world using the dollar system. “Who’s ever going to trust them again?”
đź”— DropSite
Meanwhile, here’s Don Jr. worshipping at the feet of another demon god in India.
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The village of Piddington has voted for independence from the United Kingdom and to become a self governing village in a landslide vote.
91% Voting Leave
This comes after news that over 3,000 illegal migrants are to be dumped in their village.
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🇺🇸🛢 The U.S. Strategic Petroleum Reserve has fallen to 283.8M barrels, its lowest level since October 1982.
A year ago, September 2025, the SPR held 406 million barrels.
The current drawdown traces back to a 172 million-barrel release President Trump authorized in March, part of a coordinated 400 million-barrel release by 32 IEA member countries. Discharge began about a week later and was expected to take roughly 120 days, with the administration pledging to refill about 200 million barrels within a year at no cost to taxpayers.
Two different floors govern how far the reserve can fall. Federal law sets an operational minimum of 252.4 million barrels, while the generally accepted operational minimum is 250 to 300 million barrels on hand to pump and process oil efficiently, a level it is now testing.
Ben Cahill, an energy analyst at the Atlantic Council, has warned the releases carry diminishing returns: "at a certain point it becomes a self-defeating move, because releasing more...
