Physical Oil Flips From Bidding War To Fire Sale As Gulf Barrels Flood Back
Summary
Physical Oil Flips From Bidding War To Fire Sale As Gulf Barrels Flood Back For much of the past two months, the most important oil price in the world was the one nobody saw on TV. While ICE Brent futures chopped around in a range, the price of actual, deliverable barrels went parabolic: as we noted at the time, Dated Brent refused to come down even as Gulf flows recovered, North Sea Forties was quoted above $140 a barrel in early October, and refiners scrambling for prompt cargoes were paying whatever it took. Regular readers will recall we have been pounding the table on this "huge physical…
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Physical Oil Flips From Bidding War To Fire Sale As Gulf Barrels Flood Back
Physical Oil Flips From Bidding War To Fire Sale As Gulf Barrels Flood Back For much of the past two months, the most important oil price in the world was the one nobody saw on TV. While ICE Brent futures chopped around in a range, the price of actual, deliverable barrels...
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