Vitol Executive Warns Hormuz Blockade Is Triggering Global Oil Crunch as West Stays Asleep
Updated
Updated · Bloomberg · Jun 2
Vitol Executive Warns Hormuz Blockade Is Triggering Global Oil Crunch as West Stays Asleep
1 articles · Updated · Bloomberg · Jun 2
Tom Baker, a Vitol board member, said Europe and the US are "asleep at the wheel" even as the Strait of Hormuz blockade ripples through global oil supplies.
London remarks at S&P Global’s Middle East Petroleum & Gas Conference framed the disruption as a widening supply crunch rather than a localized shipping problem.
Baker said many Western governments are still carrying on as normal, signaling a gap between the severity seen in energy markets and the policy response.
The warning underscores how a prolonged Hormuz blockage could deepen pressure on oil flows worldwide, with Europe and the US still not fully reckoning with the risk.