Bloomberg opinion columnist Javier Blas wrote that a peace deal in the Middle East would cause a major drop in oil prices, even without an immediate increase in physical oil flows.

Bloomberg columnist Javier Blas suggests the Strait of Hormuz could remain closed for an extended period, similar to the multi-year closure of the Suez Canal.

Bloomberg columnist Javier Blas suggests the Strait of Hormuz could remain closed for an extended period, similar to how the Suez Canal was shut down for years during a past conflict.

Bloomberg columnist Javier Blas has suggested that the Strait of Hormuz could remain closed for an extended period of time.

China has reduced its oil imports by approximately 40% compared to the previous year, equivalent to about 4 million barrels per day, reaching a 10-year low.

Retail gasoline prices in the United States are currently well above $4 per gallon as a result of the ongoing conflict in the Middle East.

Reports from Iran indicate a deteriorating domestic economy with rising unemployment, skyrocketing food inflation, and increasing general inflation.

Some oil market participants believe China's reduction in oil imports is a strategic move to provide political support to the Trump administration.

Javier Blas predicts that the United States and Iran will reach a diplomatic agreement to resolve the current conflict before the end of June.

If US gasoline prices were to rise above $5 a gallon, the Federal Reserve would face significant pressure to increase interest rates.

The United States, Canada, European nations, and Japan released oil from their strategic petroleum reserves within two weeks of the conflict's start.

Approximately 100 days into the US-Iran conflict, oil prices are trading below $100 per barrel.

The American refining system increased the proportion of jet fuel produced from each barrel of oil by a few percentage points to mitigate shortages caused by the conflict.

The Strait of Hormuz remains closed due to the ongoing conflict between the United States and Iran.

Javier Blas estimates that if China had not reduced its oil imports, US gasoline prices would likely have risen above $5 a gallon.

Javier Blas speculates there may be an undisclosed agreement between the Communist Party of China and the White House regarding China's recent reduction in oil imports.

The price of gasoline in the United States has risen to $4.50 per gallon.

The expected increase in US oil production of a couple of hundred thousand barrels per day will not be enough to cover the current market deficit of 10 million barrels per day.

Javier Blas predicts that Europe's jet fuel supply will become significantly tighter after the end of June due to a seasonal increase in demand.

Fatih Birol, head of the International Energy Agency, stated the current energy crisis is worse than the crises of 1973, 1979, and 2022 combined.