Physical oil prices detach from futures as Dated Brent surges
Traders flagged a sharp blowout between Dated Brent and futures, plus heavy early-April stock draws, as evidence of extreme near-term tightness in physical crude markets.
From the sources (4 posts)
@rory_johnstonGood morning, oil watchers. Vortexa tracking crude/condy stock draws of 10 MMbpd through the first 9 days of April. That's a lot.
@globalmktobserv🚨The physical oil market is flashing unprecedented stress: Dated Brent, the benchmark used to price physical crude worldwide, has officially exceeded the Great Financial Crisis peak. At the same time, the nearest Brent futures contract fo
@staunovo$133 vs. $99. What Is the Real Price for a Barrel of Oil? Prices for physical oil are becoming detached from what is implied in financial markets #oott
@globalmktobserv‼️Physical, real-world oil prices are surging even as futures fall: Dated Brent, the benchmark used to price most of the world’s seaborne crude, ended Monday’s session higher. This comes despite falling WTI crude and Brent futures prices.