Eurodollar University

BREAKING: Oil Rationing Have Started

9 snips
Mar 26, 2026
A deep dive into a global fuel shock caused by a shipping blockade at Hormuz and spreading shortages from Australia to the Philippines. Reports of jet fuel hoarding and planned rationing for airlines in parts of Asia. Warnings that Europe could face similar disruptions and the knock-on effects for currencies, credit markets and economic activity.
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INSIGHT

Oil Shock Is Now A Physical Shortage

  • The oil shock has shifted from a price spike to real physical fuel shortages across Asia and beyond.
  • Jeff Snider cites blocked Hormuz flows, rapid country-level shortages, and airlines warned to plan for rationing within weeks.
INSIGHT

Oil Spikes Hit Jobs Not Sustained Inflation

  • Oil price spikes historically reduce employment rather than causing sustained inflation.
  • Snider emphasizes energy cost increases get paid for out of employment and demand destruction, not persistent price inflation.
ANECDOTE

Australia Sees Hundreds Of Stations Run Dry

  • Australia experienced hundreds of service stations running out of fuel, with about 10% of outlets affected in New South Wales and Victoria.
  • The government temporarily cut minimum stockholding rules and eased fuel standards to free roughly 862 million liters of supply.
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