Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: Jeff Currie warns of extremely high risk that US gas prices reach $5 before midterms
According to Bloomberg, Veteran commodities strategist Jeff Currie warned that average US gasoline prices face an extremely high probability of surpassing $5 a gallon prior to November’s midterm elections, driven by compounding global energy shortages and currency debasement. Speaking on Bloomberg Television, the Real Macro chief executive noted that supply tightness has expanded from refined products into crude oil, pushing the entire commodity complex higher as refineries exhaust operational flexibility and Strategic Petroleum Reserve releases remain unlikely to resume. With retail diesel potentially reaching $7 to $9 a gallon and agricultural commodities like soybeans, wheat, and corn already signaling an escalating food crisis, Currie urged investors to allocate toward hard assets amid unprecedented structural scarcity across the sector.