Wild trading in global markets as Goldman Sachs confirms the next layer of damage.
June 10 (King World News) – Gregory Mannarino, writing for the Trends Journal: Global oil inventories risk has reached critical low levels before peak summer demand. The IEA is warning that US emergency stock releases are only temporary… and that the supply losses are so large that balance may ultimately require demand destruction… meaning people and businesses forced to consume less because supply is too tight or too expensive.
ADNOC. A leading diversified energy group owned by the Abu Dhabi government is warning that August could become a tipping point for much higher oil prices if demand rises while this supply disruption continues. ADNOC also stated that the shortages are no longer confined to crude. The disruption now extends into jet fuel, LPG, chemicals, fertilizers, and Sulphur.
This is rapidly DEVOLVING into a broad industrial and household survival story.
Why is this becoming a household survival story?
1. Jet fuel affects airlines and transport.
2. LPG affects heating, petrochemicals, and industry.
3. Chemicals affect manufacturing.
4. Fertilizers affect agriculture and food costs/availability.
5. Sulphur affects industrial production and agricultural inputs.
The “shock” is moving through the operating system of the economy AT A RAPID PACE.
And then we have this…………..Goldman Sachs confirms the next layer of damage…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
Goldman Sachs expects refined fuel margins to remain two to three times higher than their historical 2013–2019 averages through the rest of 2026.
That above means “pressure” on diesel, gasoline, and other fuels is not expected to disappear anytime soon.
Translation…………….. diesel + trucking + freight + food + retail prices, EAT household budgets.
Now here comes the part that should enrage every Lion paying attention.
US crude exports hit a record 5.6 million barrels per day in May. US strategic reserves are being used/loaned out to protect foreign economies from economic shock/higher costs while here in the US… there is no relief.
Let’s strip the lies away.
We are in a full crisis. And yet record US crude is being shipped/LOANED OUT abroad. Emergency reserve barrels have been sent to foreign nations. AND NOW domestic inventories are falling low enough to become an issue; This is the United States functioning as an emergency backstop for a wounded global energy system IN RAPID DECLINE…
The broken global oil system is pulling American barrels abroad at a record pace, including barrels from America’s emergency reserve, while the domestic cushion becomes more important and the public is being told everything is fine.
That is the real picture. The stack is now unmistakable.
WAR/STRAIT DISRUPTION. MISSING BARRELS. RECORD US OIL EXPORTS. SPR BARRELS SHIPPED ABROAD. LOW DOMESTIC INVENTORIES. FREIGHT/ FOOD/INDUSTRIAL SHOCK. RISING INFLATION. DEMAND DESTRUCTION. HOUSEHOLD DAMAGE.
THE EMPEROR HAS NO CLOTHES.
Gold & Silver Takedown
To listen to Alasdair Macleod discuss the gold and silver takedown and exactly what he would be telling his clients to do if he was still a broker CLICK HERE OR ON THE IMAGE BELOW.
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