Closely followed oil strategist Jeff Currie says it’s time to cash in on gains that crude has seen this year, but that the structural supercycle is still intact.
Oil has had a massive run, but a prominent bull sees a turning point on midterm eve
In short
Jeff Currie is currently advising market participants to cash in on crude following its massive run this year. He views the period around the eve of the midterm elections as a pivotal turning point for the market. Even as he recommends taking profits now, Currie maintains that the broader structural supercycle for crude remains intact.
Key points
- Investors are being urged by a prominent bull to lock in recent profits on crude.: Investors are being urged by a prominent bull to lock in recent profits on crude.
- The timing around the midterm elections is seen as a tactical pivot for the commodity.: The timing around the midterm elections is seen as a tactical pivot for the commodity.
- Long-term structural strength in the oil market is expected to persist despite near-term…: Long-term structural strength in the oil market is expected to persist despite near-term selling.