Former Goldman Sachs commodities head “I want to be long oil”

Jeff Currie is ex-Goldman Sachs and is now at Carlyle Group, and still liking oil.

Curie says the crude price is set to rise above $90 a barrel if the Federal Reserve cuts rates sometime in the months ahead:

• “I want to be long oil and the rest of the commodity complex in this environment”

Currie also points to China’s efforts to support its manufacturing industries, and Europe rebuilding stockpiles as supportive for commodity prices, especially oil and copper. Says upside is significant.

Further on oil, Currie adds that the uncoordinated and messy nature of the energy transition will lead to heightened price volatility in the longer term.

• “Three years ago, everybody was green, green, green, and this week they’re all questioning it. The reality is somewhere in between.”

Brent daily candles:

This article was written by Eamonn Sheridan at www.forexlive.com.