Physical Oil Prices Now Surge Faster Than Futures

Physical crude prices have broken away from futures as the Strait of Hormuz disruption deepens, with European and Asian refiners now paying near-$150 a barrel for some grades while June Brent remains far lower. Reuters reported that at least 12 million barrels per day, or about 12% of global supply, has been shut in from […] The post Physical Oil Prices Now Surge Faster Than Futures appeared first on the deep dive.