Godfather of Commodities: Crude Oil Now Ripe for Short-Term Profit-Taking

Following a sharp rally in international oil prices this year, Jeff Currie, a prominent investor with a long-term bullish stance on the energy market, is now advising investors to lock in short-term profits. However, he has not altered his long-term outlook for the energy sector, arguing that a structural energy supercycle driven by deglobalization, electrification, and currency devaluation remains intact, with investment opportunities shifting from crude oil itself to energy infrastructure and supply chain resilience. Currie, founder and CEO of Real Macro, previously served as chief energy strategist at The Carlyle Group and Goldman Sachs, and is widely known as the "Godfather of Commodities". He has been consistently bullish on oil since the COVID-19 pandemic, and doubled down on that stance following the outbreak of the Iran crisis this year. Yet, in a post on social platform X, he noted that now is the time to take partial profits on short-term trades, citing two key reasons: first, oil prices have risen too fast and too far; second, further escalation of tensions in the Strait of Hormuz will have mutually devastating consequences for both sides of the conflict. Currie refers to spot crude oil and short-dated futures contracts as "prompt oil". He suggests investors consider locking in profits on these trades as well as their refined product positions. Brent crude has risen roughly 75% year-to-date, which he says has delivered ample returns for investors.