Jeffrey Currie ++

Latest positions

• JCJeffrey Currie ++Risk rising on Black Sea The Black Sea grain corridor is shut with 97% of Azov–Black Sea export capacity offline. “The Black Sea grain corridor is shut with 97% of Azov–Black Sea export capacity offline” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Strongly bullish on diesel Diesel remains extremely tight and expensive relative to crude, and the product squeeze persists regardless of crude supply. “diesel is still $174 a barrel against $80 crude” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Strongly bullish on Gasoline Gasoline, diesel and jet fuel are far tighter than the crude price suggests, keeping product prices elevated. “That is why gasoline, diesel and jet are far tighter than the crude price suggests.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Risk rising on Rhine The Rhine is at a 146-year low, constraining barge logistics. “The Rhine is at a 146-year low and Panama is cutting drafts.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Risk rising on Red Sea The Red Sea and Bab el-Mandeb remain constrained, adding to the chokepoint squeeze. “The Red Sea and Bab el-Mandeb remain constrained.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Strongly bullish on jet fuel Jet fuel is far tighter than the crude price suggests, with product markets squeezed. “That is why gasoline, diesel and jet are far tighter than the crude price suggests.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Risk rising on Panama Panama is cutting drafts, adding to shipping constraints. “The Rhine is at a 146-year low and Panama is cutting drafts.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Bullish on Refining Years of underinvestment in refining and logistics left no spare capacity, so refining margins and product tightness persist. “Years of underinvestment in refining and logistics left no spare capacity to absorb any of it.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Risk rising on Bab el-Mandeb Bab el-Mandeb remains constrained alongside the Red Sea. “The Red Sea and Bab el-Mandeb remain constrained.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Risk rising on Hormuz Hormuz remains a live squeeze — the Strait stays shut until Washington accepts Tehran's conditions and the US blockade remains in force. “The IRGC says the Strait stays shut until Washington accepts Tehran's conditions, and the US blockade remains in force.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Risk rising on Russia Ukrainian strikes have taken out Russian refining capacity, tightening product supply. “Ukrainian strikes have taken out Russian refining capacity.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug
• JCJeffrey Currie ++Bullish on logistics Underinvestment in logistics left no spare capacity to absorb the chokepoint disruptions, keeping freight and product costs elevated. “Years of underinvestment in refining and logistics left no spare capacity to absorb any of it.” Open the post Thank you to @JoeSquawk and the @CNBC Squawk Box… · 26 Aug