Javier Blas: Global crude oil in transit nears record as Iranian barrels are absent

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Javier Blas: Global crude oil in transit nears record as Iranian barrels are absent — Crude oil in transit nears record levels

Global crude oil in transit has reached a level just below its all-time high, based on data from Vortexa. This latest wave of crude oil shipments does not include any barrels from Iran.

Javier Blas, an energy and commodities columnist and journalist at Bloomberg, shared the update, noting the comparison to the previous peak set in July after the memorandum of understanding was signed.

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Blas has recently reported on major developments within the energy sector. He noted that Gunvor will rebrand as Centalion and shift its headquarters to Singapore, maintaining its main trading operations in Geneva. In a separate update, he highlighted admissions by BP CEO Meg ONeill regarding shortcomings in capital oversight.

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