Ex-Goldman Commodity King Warns ‘No Policy Response Can Meaningfully Reverse Oil Prices’

“There is NO policy response that will stop this ascent in crude in the near term,” warns Goldman’s former head of commodity research, Jeff Currie. In an interview on Bloomberg TV (watch here), Currie warned that the broader crisis goes beyond just oil: This isn’t solely an oil issue; the Strait disruption affects multiple commodities and global trade. The system “simply cannot accommodate” such a shock, leading to extreme hoarding, upward price pressure, and potential inflation spillovers. Oil Crude’s ascent is unstoppable in the near term: No effective policy response (e.g., from governments, SPR releases, or other interventions) can halt…