Jack Farchy

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Jack Farchy

Jack Farchy

@jfarchy

Senior Reporter for Energy and Commodities at Bloomberg News. Co-author of The World for Sale: https://t.co/EV8tueLP9v

London Katılım Nisan 2010
3K Takip Edilen19.8K Takipçiler
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Jack Farchy
Jack Farchy@jfarchy·
The World for Sale comes out in paperback this week If you want to understand how oil and commodity markets work, how they influence geopolitics, and the extraordinary power of a few little-known traders, take a look: smarturl.it/TheWorldForSale
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Javier Blas
Javier Blas@JavierBlas·
A little-known Swiss trading company played a key role in getting an oil supertanker transit through the Strait of Hormuz, a stop-start journey that captivated the market earlier this month bloomberg.com/news/articles/…
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Javier Blas
Javier Blas@JavierBlas·
The scale of the reduction in Chinese oil imports is increasingly difficult to explain with available data. On paper, Beijing is currently running its economy with ~1/4 less oil than pre-war. But demand destruction (or shift in petchem feedstock) can hardly explain *all* of it. So is China drawing hard on difficult-to-track commercial stocks of refined products? Has it tapped underground SPR sites? All of the above?
Javier Blas@JavierBlas

China continues to cushion the global oil market, with imports May-to-date plunging significantly below even the depressed levels seen in April. At the current pace, Chinese crude oil imports are set to hit a 10-year low in May. On a four-week average, Chinese crude/condesate imports are running >4 million b/d BELOW pre-war levels.

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Javier Blas
Javier Blas@JavierBlas·
UK government says it's closing a tax loophole that allowed some oil/gas firms to pay little (or none at all) tax on their British energy trading profits. From @RachelReevesMP statement today:
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Javier Blas
Javier Blas@JavierBlas·
BREAKING: US total crude inventories fell last week ~17.8 million barrels (that's commercial and SPR stocks combined). On that basis, it's the largest weekly fall since data is available starting in 1982.
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Polina Ivanova
Polina Ivanova@polinaivanovva·
There were 28 sailors aboard the Bella 1 when the sanctioned, 330m-long supertanker turned around and made a mad dash across the Atlantic, US Coast Guard in pursuit. In the @FTMag this weekend — life aboard the shadow fleet, and in the firing line: as.ft.com/r/31e28d68-451…
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Javier Blas
Javier Blas@JavierBlas·
COLUMN: China is quietly slashing oil imports, an invisible hand that's rebalancing the market in the middle of the Hormuz closure. (The shift has not only capped benchmark oil prices, but also triggered a collapse in physical differentials) @Opinion bloomberg.com/opinion/articl…
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Javier Blas
Javier Blas@JavierBlas·
US sanctions Iraq deputy oil minister Ali Maarij Al-Bahadly for allegedly facilitating the diversion of Iraqi oil to “be sold for the benefit of the Iranian regime and its proxy militias in Iraq.” home.treasury.gov/news/press-rel…
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Javier Blas
Javier Blas@JavierBlas·
Counterintuitive perhaps, but the physical oil market appears to be calming. Dated Brent is hovering at ~$115 a barrel, and physical differentials have narrowed massively, with grades offered at ~$3 a barrel premium to the benchmark vs the ~$30 a barrel premium of mid-April.
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Archie
Archie@megacontango·
For decades, the world’s biggest commodity traders have sought to remain outside of politics, doing deals with anyone who has natural resources to buy or sell. Now, Donald Trump is changing the rules of the game. @jfarchy bloomberg.com/news/articles/…
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Javier Blas
Javier Blas@JavierBlas·
VIDEO COLUMN (2): The Hormuz question. What's happening in the world's most important oil and LNG chokepoint? Let me explain the situation in the strait, and how its shipping lines (and status) are changing, perhaps for ever. @Opinion #Hormuz #IranWar‌
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Stephen Stapczynski
Stephen Stapczynski@SStapczynski·
Russia is offering to sell US-sanctioned LNG to South Asian buyers at a *40% discount* 🇷🇺🚢 Moscow is seeking to leverage the global natural gas crunch to lure energy-hungry countries like Bangladesh and India bloomberg.com/news/articles/…
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Bloomberg
Bloomberg@business·
Aluminium Bahrain, which runs the world’s largest single-site smelter of the metal, has started a phased production shutdown to conserve raw-material supplies bloomberg.com/news/articles/…
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Morgan Bazilian
Morgan Bazilian@MBazilian·
No one could have predicted this, save for the literally hundreds of war games conducted over the last 50 years with this exact scenario.
Zachary Cohen@ZcohenCNN

New: The Pentagon & National Security Council significantly underestimated Iran’s willingness to close the Strait of Hormuz in response to US military strikes while planning the ongoing operation, sources to me, @Phil_Mattingly, @kylieatwood & @Kevinliptakcnn. Top Trump officials acknowledged to lawmakers during recent classified briefings that they did not plan for the possibility of Iran closing the strait in response to strikes, per 3 sources. cnn.com/2026/03/12/pol…

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Rory Johnston
Rory Johnston@Rory_Johnston·
NEW: US Treasury issued a general license for the delivery and sale of Russian oil loaded on vessels as of March 12. Moscow continues to be the single largest beneficiary of the Iran War.
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Javier Blas
Javier Blas@JavierBlas·
Pre-war Strait of Hormuz *crude* flow: ~15m b/d My current flow assumptions: Iran: ~1.2m b/d (SoH) UAE: ~1.8m b/d (Fujairah) KSA: >2.0m b/d (Red Sea above pre-war) Plus ~0.5m b/d (SoH tankers with AIS off) Total: ~5.5m b/d (~35% of pre-war) Saudi flows to rise by Thu-Fri
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Keşfet

@RachelReevesMP @FTMag @opinion @megacontango @tracyalloway @JavierBlas @elonmusk @BarackObama