Jeff Currie Says Investors Can Consider Taking Profits on Short-Term Oil Trades

Jeff Currie, founder and CEO of Real Macro, said investors can consider taking profits on short-term oil trades after Brent crude rose about 75% year to date as of Nov. 3.

Currie said oil prices had risen too quickly and too far. He also warned that further escalation around the Strait of Hormuz would bring mutually destructive consequences for the parties involved.

Currie uses “prompt oil” to mean spot crude and short-term futures contracts. He said investors can consider taking profits on those positions as well as refined-product holdings.

His long-term view on energy remains bullish. Currie sees a structural energy supercycle driven by deglobalization, electrification and currency debasement, with investment opportunities moving from crude itself toward energy infrastructure and supply-chain resilience.

Currie previously served as chief energy strategist at Carlyle Group and Goldman Sachs.