Jeff Currie: Forget $91 Brent, The Real Crisis Is $170 Diesel

Jeff Currie: Forget $91 Brent, The Real Crisis Is $170 Diesel

Brent at $90.94 looks almost civilized. Jeff Currie thinks that is exactly the problem: everyone is staring at crude while the real energy shock is already showing up in the fuels people actually buy. “Nobody on the planet earth consumes crude oil,” Currie told CNBC. Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier. European diesel was trading around $170 per barrel during the interv…

Jeff Currie Forget $91 Brent, The Real Crisis Is $170 Diesel

Brent at $90.94 looks almost civilized. Jeff Currie thinks that is exactly the problem: everyone is staring at crude while the real energy shock is already showing up in the fuels people actually buy. “Nobody on the planet earth consumes crude oil,” Currie told CNBC. Refineries do. Everyone else…

China impacted the global oil supply, and moved the crisis downstream. Diesel is the next inflationary problem for the Trump Administration. - Energy News Beat

Brent crude hovering near $91 a barrel might look manageable on a trading screen. Jeff Currie, the veteran commodities strategist now at Carlyle Group, argues that focus is dangerously misplaced. “Nobody on the planet Earth consumes crude oil,” Currie told CNBC. “Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier.” European diesel was trading around $170 per barrel during his recent co…