🇺🇲 Diesel is already above its 2008 highs.
Winter hasn’t even started.
Jeffrey Currie says the bigger shock comes if Europe discovers its gas cushion is gone, just as Washington starts talking about curbing exports.
“The United States is talking about curtailing exports. That is not a good policy, because ultimately it is the security of the provider, the reliability of the provider.”
Because once America stops looking reliable as the supplier of last resort, the damage isn’t just higher prices.
It’s trust.
@CommodMkt
Video
Mario Nawfal (@MarioNawfal)🇺🇲 Paper markets can stay wrong for years.
Physical markets eventually send the bill.
Jeffrey Currie says commodities are already flashing a warning that financial markets seem happy to ignore:
“Wheat, corn and all of these other markets are telling me you have a problem.”
Gasoline, diesel, grain.
When the stuff people actually need starts screaming, pretending the screen knows better becomes a choice.
@CommodMkt
Video
— https://x.com/MarioNawfal/status/2104369246348202415