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Javier Blas, energy and commodities columnist, journalist, author at Bloomberg, observes that despite widespread reports about the closure of the Strait of Hormuz, a significant volume of oil continues to transit undetected.
Blas points out that ship-to-ship operations in the Gulf of Oman have increased, with an estimated 5 million barrels per day of oil moving 'dark' through the strait. He suggests this ongoing activity is a contributing factor to a softer physical oil market.
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Blas has previously reported on leadership changes in the commodities sector, including the departure of Nick O’Kane from Mercuria after two years in the role here. He has also covered Chevron's earnings, noting the company's net income exceeded $12 billion in the second quarter due to strong refinery results here. These recent reports reflect his continued coverage of key developments in global energy and commodities.