Javier Blas

Early on in the Iran war, a long-forgotten pipeline built across Saudi Arabia 40 years ago became a lifesaver for the global economy. The East-West conduit allowed the kingdom to bypass the Strait of Hormuz, keeping some of its oil flowing . Now that the Houthis of Yemen are trying to close an essential chokepoint for that workaround, the Saudis may need a bypass for the bypass.

The East-West conduit allowed the kingdom to bypass the Strait of Hormuz, keeping some of its oil flowing.* Now that the Houthis of Yemen are trying

With apologies to Oscar Wilde, to lose one critical waterway may be regarded as misfortune; to lose two looks like carelessness. Of course, we’re long past carelessness and are now barreling toward disaster, with three already lost (the Strait of Hormuz, the Black Sea ports and the Red Sea’s Bab el-Mandeb) and a fourth poised to join their ranks: the mighty Rhine.

The reason isn’t war or geopolitical upheaval, but lack of rain, which has reduced its water level to dramatic lows, halting barge traffic.

Of course, we're long past carelessness and are now barreling toward disaster, with three already lost (the Strait of Hormuz, the Black Sea ports, and

With apologies to Oscar Wilde, to lose one critical waterway may be regarded as misfortune; to lose two looks like carelessness.

The US-Iran war has reminded the world that waterways are vulnerable to war, but there's another crisis in the making, says Javier Blas for Bloomberg Opinion.

The energy industry’s latest panic is that it’s about to hit “tank bottoms” — the minimum amount of crude in storage required to keep the conveyor belt that goes from oilfields to refineries humming. As with every financial narrative, the story of the impending oil crisis contains a grain of truth — and ample hogwash.

THE energy industry's latest panic is that it is about to hit “tank bottoms”: the minimum amount of crude in storage required to keep the conveyor belt that goes from oilfields to refineries humming.

As with every financial narrative, the story of the impending oil crisis contains a grain of truth - and ample hogwash, says Javier Blas for Bloomberg Opinion.