Greg Brew on Surging Energy and the 'Strategic Trap' of the War in Iran

Bullish:

• $ENERGY - Energy infrastructure damage and Strait of Hormuz closure creating sustained supply constraints, with oil prices expected to remain elevated for the rest of the year.

  • “So I think expectations are definitely shifting or or have shifted to the belief that this is likely gonna go on for a while and that the supply effect is now such that prices are gonna stay high for the rest of this year.”

    Greg·51:02

  • “I think seeing oil prices fall below $75 a barrel by the end of the year is pretty unlikely, even if this conflict wraps up very quickly.”

    Greg·51:31

  • “If the brunt front month is around 111, and that's the futures, the price of a barrel of Omani crude right now, you go to Oman, you buy a barrel of oil, is over a $150 a barrel. That's the premium that's now being placed on Middle East production out of Oman, out of The UAE.”

    Greg·52:40

  • “The expectations are that this isn't gonna end soon. And even if it does, the size of the physical disruption that we've seen so far is gonna create constraints on supply going through the next twelve months.”

    Greg·53:24