Peter Carlin: Why The Financial System is Imploding, The Rise of Gold & Oil Shortages
About this episode
Peter Carlin discusses the volatility in global energy markets and the implications for gold and oil amidst geopolitical shifts.
Stijn Schmitz welcomes Peter Carlin to the show. Peter Carlin is Commodity Broker, Trader, and Author. The discussion opens with the extreme volatility in global energy markets, where the Strait of Hormuz and Red Sea disruptions are creating severe logistical bottlenecks. Carlin explains that the real crisis is not crude oil supply per se, but a mismatch between the sour crude grades needed by Western refineries and the sweet crude that is more readily available. The US Strategic Petroleum Reserve is being heavily drawn down, particularly its sour component, to feed refineries and supply Europe, while refinery utilization rates in America are running unsustainably high, threatening system integrity. He notes that the situation is fluid and that any return to normal is unlikely; the geopolitical landscape has fundamentally shifted, with the US military presence in the Gulf diminished and Iran successfully exporting oil to China, settling in renminbi via alternative payment systems. The conversation shifts to gold and currencies. Carlin observes that gold’s recent price action is linked to the apparent disappearance of a distressed seller in the Gulf, now that loadings have…
People in this episode
Host: Stijn Schmitz
Guest: Peter Carlin
Topics covered
- financial system
- gold
- oil shortages
- geopolitical landscape
- energy markets
- refinery utilization
- currency crisis
Keywords
- commodity broker
- energy markets
- sour crude
- gold price
- Japanese yen
- sovereign debt crisis
- refinery rates
- geopolitical shifts
Mentioned in this episode
Organizations: US Strategic Petroleum Reserve
Places: Iran, Gulf, China, Strait of Hormuz, Red Sea, Europe, Japan
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