Why Oil Prices Look Strong on Paper but Soft in Reality

Oil markets are struggling to reconcile geopolitics with fundamentals as headlines push prices one way while physical signals pull in the other direction. The result is a market where Brent spreads and gasoil cracks appear strong on paper, even as North Sea grades compete for premiums and US crude arrives at a discount in Europe. Markets are operating on a split screen, with futures signalling at least some tightness still, while the physical market has been weakening markedly. The paper structure has solidified, still in backwardation.  Traders…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com