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.”
📌 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?”
🔗 DropSite
Speaking at the WEF, Savor CEO Kathleen Alexander boasts about how her company is "saving the planet" from the evils of agriculture by replacing real butters and oils with synthetic versions made from carbon dioxide and methane. 😳
"Savor is part of bringing transformation to the food system by re-imagining how we make an entire macronutrient—fats and oils."
"The result is that we can dramatically lower the planetary footprint of our food system."
"Our food system today uses about 50% of the habitable land on the planet. It's 20-30% of our greenhouse gas emissions."
"And we can reduce all of those by 50-100%."
Source
Follow @RealWideAwakeMedia for more content like this!
Merch: https://wideawake.clothing
X | YT | IG | Rumble
🌆 Market News Digest
[July 3, 2026 EST]
🔥 Top Stories
• Middle East risk flares — IDF hits Hezbollah sites in south Lebanon; Houthis threaten Saudi assets; France deploys naval/mine-countermeasure assets near Hormuz.
• U.S. oil market scrutiny — DOJ/FTC say they’re monitoring crude for price-fixing/collusion as Brent settles at $72.12/bbl.
• Trump pardons saga — Trump signs pardons for six and faces fresh scrutiny after NBC reported undisclosed stock purchases before tariff pause.
⛽ Oil & Energy
• Gulf crude exports topped 10M bpd in June but remain ~40% below pre-conflict levels; Fitch flags ongoing Iran/Mideast risk to corporates and oil forecasts.
• CMA CGM warns Hormuz transit charges would be “devastating”; Airbus says defense cooperation remains pressured.
📊 Markets & Macro
• Germany’s 2027 draft budget lifts borrowing to €203.7B and spending to €555.4B; euro equities firm with DAX +0.85%.
• ECB/BoE message: inflation still the focus, but Bailey says UK ...
🇮🇷🏆🇺🇸 Iran Is a Bigger Defeat Than Vietnam | Foreign Policy
At his second inaugural, U.S. President Donald Trump pronounced his hope “that our recent presidential election will be remembered as the greatest and most consequential election in the history of our country.” By losing his Gulf war, Trump has achieved that goal. His choice to launch a campaign against Iran was encouraged by others, but fully his own. It has led to a reversal that marks a strategic calamity far greater than the U.S. defeat in the Vietnam War.
Defeat in the Iranian war looks, on the surface, nothing like other U.S. military defeats. The speed of the war and its remoteness have lent an air of unreality to the whole endeavor. The White House has not been burned, as it was in 1814; there have not been protests against a nonexistent draft. The absence of substantial U.S. casualties in this conflict also masks the scale of the U.S. defeat. To be sure, the war has been deadly: Thousands of Iranians, ...
According to The Wall Street Journal, Donald Trump reviewed military options for a full-scale war against Iran to “finish the job,” but has decided, for now, not to move forward.
The report says Trump is concerned that renewed military conflict could hurt the chances of a diplomatic resolution and of dismantling Iran’s nuclear program, and that he’s shown willingness to let indirect talks in Qatar run past the August 18 deadline. He is said to be fine with continuing limited strikes on Iranian targets if Tehran violates the current temporary deal - as it already has, repeatedly.
How are those negotiations going?
Not well. It seems JD Vance’s “historic” face-to-face achievement was a one-off. Washington has been quietly downgraded from talking to the Great Satan to negotiating with the Little Satan instead - a senior Qatari official confirmed that U.S. envoys Steve Witkoff and Jared Kushner met Qatari officials in Doha, but there are currently no high-level U.S.-Iran meetings ...
