India is now being forced to ration diesel fuel for the first time maybe ever. At the same time, global stocks of crude oil are at their lowest since 2003. Even inventories here in the US have been drained to levels we haven’t witnessed in 20 years. In other words, as hopes for a peace deal with Iran rise, our attention must now turn to this critical next stage. While the conflict might subside, hopefully, this thing is far from over. Eurodollar University&#x27;s conversation w/Steve Van Metre ------------------------------------------------------------- If you have a retirement account and you’ve been wondering whether crypto belongs inside it, BlockTrustIRA is something worth looking into. Most crypto IRA platforms are self-directed. They give you access, but you still have to decide what to buy, when to sell, and when to rebalance. BlockTrustIRA is different. Right now, eligible viewers can get up to a $2,500 crypto bonus when they open and fund an account. Terms, conditions, funding minimums, and eligibility requirements apply. To learn more, go to https://eurodollarcrypto.com. This is a Paid advertisement. Not financial, investment, tax, or retirement advice. Crypto is volatile and may lose value. Past performance does not guarantee future results. Terms apply --------------------------------------------------------------- Webinar June 2026: Why Smart Investors Keep Missing Every Major Economic Turning Point It isn&#x27;t that they&#x27;re buying the wrong assets. They&#x27;re using a broken map of the monetary system — and getting it wrong leads to catastrophic decisions. Let&#x27;s fix that. Sunday, June 28 @ 5:30pm ET. Sign up below. https://webinar.eurodollar-university.com/home ------------------------------------------------------------------- https://www.eurodollar.university Twitter: https://twitter.com/JeffSnider_EDU I’ll also be active on Bravais Social - a new AI-centered social network designed for professionals and knowledge workers. The platform aims to bring together a wider range of tools and functionalities tailored specifically for professional interaction, research, and knowledge exchange in one place. You can find me here: https://bravais.social/profile/edu

Now That Iran Is Done, The Real Oil Crisis Begins

Eurodollar University

# Full Transcript

**Podcast:** Eurodollar University

## Participants

- **Jeff Snider** (None)
- **Steve Van Metre** (Eurodollar University)
- **Steve Van Metre** (Eurodollar University)

## Transcript

India is now being forced to ration diesel fuel for the first time maybe ever. At the same time, global stocks of crude oil have fallen to their lowest since 2003. Even here in the US, inventories have been drained to levels we haven't witnessed in over 20 years. In other words, as hopes for a peace deal with Iran rise, we now have to turn our attention to that next critical stage because as potential for conflict fades, this thing still isn't over.

However, with oil flow historically restricted over the last three months, there are consequences which are just now starting to be felt. We have little idea how much damage has been done and how much of it might be permanent. It's also going to take quite some time to get production moving again and then be able to replace the massive amount of oil that came out of inventories, including in places like China.

What the Chinese have done over the last three months has been utterly extraordinary and how they respond over the next couple weeks will be absolutely critical to the path that oil prices take from here. That's what we need to watch carefully. There's going to be some selling euphoria, especially once the shorts go piling in. But after that initial downward bounce, that's what we need to see. How the market prices this coming next stage of the energy shock, which is hopefully the cleanup phase.

And we're already getting market signals this past week about what that could possibly look like. So we'll take a look into the curve, the inventories and like India, just how far off a normal the world has gotten to be. So, Steve, we've got some what looks to be good news, at least the market, the oil market anyway, is taking it as, OK, this may be closer to the end than not. But the rest of the oil market is saying, well, we've come this far. We've been able to get this far through a couple of different couple of different means and measures.

But those the clock is still ticking on those. Yeah, absolutely, Jeff, because, you know, it's almost like the real shock is yet to come. So you have the earthquake and then you have the aftershock. And sometimes the aftershock is far worse. And I think the perception is for a lot of people. It's like it's like a spigot, a water spigot. You just go out into your yard and, well, you turned it down because, you know, we had too much, you know, we didn't have anywhere to put all this oil. We'll just turn it right back up. But that's not the case at all.

Just to keep the infrastructure running, assuming there's no other damage to it, you've got to run a minimum amount through some wells. They need to produce a minimum amount of barrels every day or else things go wrong. So the issue I think everyone doesn't realize, and this is I think the big shoe to drop over ...

Now That Iran Is Done, The Real Oil Crisis Begins

Transcript

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Now That Iran Is Done, The Real Oil Crisis Begins

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.