Clayton Siegel

Tanker shipments in the Strait of Hormuz have come to a halt due to attacks on three ships. Siegel states, "That's 600 million barrels that could potentially be deprived... that's basically a week of no oil." He explicitly puts "$90-$100 barrel oil" on the table. The physical blockage of a chokepoint handling 20% of the world's oil supply creates an immediate supply shock. With OPEC spare capacity low and US inventories as the only cushion, prices must rise to ration demand. This directly benefits crude futures and major integrated oil producers with non-Gulf production. LONG. Energy is the primary hedge against this geopolitical conflict. Rapid de-escalation or release of Strategic Petroleum Reserves (SPR) dampening price spikes.

Venezuela's oil sector is making progress since early-year interventions, but the more investable exposure is oilfield services: service companies can deploy, generate returns and recoup investment in 3-4 years, unlike majors and integrated projects that face much longer timelines and payback periods.

Venezuela's oil sector is making progress since early-year interventions, but the more investable exposure is oilfield services: service companies can deploy, generate returns and recoup investment in 3-4 years, unlike majors and integrated projects that face much longer timelines and payback periods.

Brent crude in the $90s reflects a delicate balancing act between both sides in the Iran conflict; until a diplomatic breakthrough or new off-ramp, Brent is likely to trade sideways, while gasoline and diesel remain in short supply and continue to tick higher.

Tanker shipments in the Strait of Hormuz have come to a halt due to attacks on three ships. Siegel states, "That's 600 million barrels that could potentially be deprived... that's basically a week of no oil." He explicitly puts "$90-$100 barrel oil" on the table. The physical blockage of a chokepoint handling 20% of the world's oil supply creates an immediate supply shock. With OPEC spare capacity low and US inventories as the only cushion, prices must rise to ration demand. This directly benefits crude futures and major integrated oil producers with non-Gulf production. LONG. Energy is the primary hedge against this geopolitical conflict. Rapid de-escalation or release of Strategic Petroleum Reserves (SPR) dampening price spikes.

Tanker shipments in the Strait of Hormuz have come to a halt due to attacks on three ships. Siegel states, "That's 600 million barrels that could potentially be deprived... that's basically a week of no oil." He explicitly puts "$90-$100 barrel oil" on the table. The physical blockage of a chokepoint handling 20% of the world's oil supply creates an immediate supply shock. With OPEC spare capacity low and US inventories as the only cushion, prices must rise to ration demand. This directly benefits crude futures and major integrated oil producers with non-Gulf production. LONG. Energy is the primary hedge against this geopolitical conflict. Rapid de-escalation or release of Strategic Petroleum Reserves (SPR) dampening price spikes.

Tanker shipments in the Strait of Hormuz have come to a halt due to attacks on three ships. Siegel states, "That's 600 million barrels that could potentially be deprived... that's basically a week of no oil." He explicitly puts "$90-$100 barrel oil" on the table. The physical blockage of a chokepoint handling 20% of the world's oil supply creates an immediate supply shock. With OPEC spare capacity low and US inventories as the only cushion, prices must rise to ration demand. This directly benefits crude futures and major integrated oil producers with non-Gulf production. LONG. Energy is the primary hedge against this geopolitical conflict. Rapid de-escalation or release of Strategic Petroleum Reserves (SPR) dampening price spikes.

Tanker shipments in the Strait of Hormuz have come to a halt due to attacks on three ships. Siegel states, "That's 600 million barrels that could potentially be deprived... that's basically a week of no oil." He explicitly puts "$90-$100 barrel oil" on the table. The physical blockage of a chokepoint handling 20% of the world's oil supply creates an immediate supply shock. With OPEC spare capacity low and US inventories as the only cushion, prices must rise to ration demand. This directly benefits crude futures and major integrated oil producers with non-Gulf production. LONG. Energy is the primary hedge against this geopolitical conflict. Rapid de-escalation or release of Strategic Petroleum Reserves (SPR) dampening price spikes.