Odd Lots Javier Blas on Why Oil Could Go Much, Much Higher
251 snips
Apr 1, 2026 
Javier Blas, a Bloomberg Opinion columnist and veteran energy reporter, maps out why oil could surge far higher. He digs into the Hormuz disruption, why East Asia gets squeezed first, and how diesel and jet fuel reveal the real stress. They also explore export bans, limits of US shale, Russian supply risks, and how a Strait toll regime could reshape global trade.
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Why Refined Fuels Matter More Than Brent
- Brent is only shorthand for the world oil price; it misses the tighter Middle East grades and the products consumers actually buy.
- Javier Blas says Oman and Dubai trade higher, while Singapore diesel is nearing $200 a barrel.
Why Diesel Is Exploding Faster Than Crude
- Refined products are spiking harder than crude because export refineries have been lost and product markets are much smaller.
- Javier Blas says refining now buffers missing crude from still-strong demand, forcing diesel toward rationing-by-price.
Why US Shale Cannot Bail Out This Shock
- US shale will respond to $100 oil, but not fast enough to offset a loss near 10% of global supply.
- Javier Blas says whether the gap is 8 or 12 million barrels barely matters; only a quick end or much higher prices closes it.
