Oil market at 'tank bottoms' in Asia, and Europe isn't far behind, warns market veteran Jeff Currie

[BumRushDaShow]

Source: CNBC

Published Mon, May 25 2026 12:51 AM EDT Updated 5 Hours Ago


Oil markets are nearing minimum operating levels in Asia, with Europe likely next and the U.S. potentially facing shortages by July, said veteran market strategist Jeff Currie on Monday, underscoring the global energy shock due to the Iran war.

Headline global inventory figures can be misleading as much of the oil stored worldwide cannot be used immediately, said Currie, Carlyle’s chief strategy officer of energy pathways and co-chairman of Abaxx Markets.

A large portion of that oil is needed to keep pipelines and storage systems running safely, leaving only a smaller share available for the market. Asia is already close to these so-called “minimum operating levels,” Currie told CNBC on the sidelines of the UBS Wealth Conference in Singapore.

Global oil markets have been under strain since the outbreak of the Iran war earlier this year, after disruptions to shipping through the Strait of Hormuz sharply curtailed energy exports from the Middle East.

Read more: https://www.cnbc.com/2026/05/25/oil-prices-iran-war-carlyle-currie.html

[bucolic_frolic]

1. America First

“All of the inventories that are drawing out of the United States out of the U.S. SPR [Strategic Petroleum Reserve] are being exported into Europe, so the Europeans think they have no problem because they’re getting all of this oil being imported from the United States, but that can’t continue on.”

So Trump is selling off our stockpiles into price strength. We could be left high and dry.

[gab13by13]

2. Yes, you get it,

I was about to post the same thing. Many countries have drawn down their oil reserves and there are consequences beyond supply for doing this.

The leaders of Iran are not stupid, they know that time is on their side. Iran will go through economic hardship but it will never give up its newly given power, control of Hormuz.

Also, more than oil goes through Hormuz, lots of cargo ships not getting through will cause other shortages. Iran can wait this out.

Also, if Krasnov decides to bomb again, well there goes oil to $150/barrel. Krasnov fucked up listening to Bibi.

[BumRushDaShow]

4. "it will never give up its newly given power, control of Hormuz."

And not just operational control, but they are now setting up a whole lucrative "toll" infrastructure to be administered by the newly formed "Persian Gulf Strait Authority (PGSA)", to make money from its assertion of that control.

This never would have happened if this farcical lark of an invasion hadn't happened.

[OrlandoDem2]

3. I'm enjoying my EV that I charge at home with solar panels on my roof.

[dalton99a]

5. Kick