LONDON (Reuters) – US President Donald Trump’s confidence in his ability to secure a deal to limit a global oil glut has boosted global crude oil futures.

FILE PHOTO: Pump jacks work at sunset in an oil field in Midland, Texas, U.S. August 22, 2018. REUTERS/Nick Oxford

But he can’t talk about the underlying physical market, which shows the full extent of demand destruction in the wake of the coronavirus outbreak.

The dated Brent crude oil benchmark, which is used by more than half of the physical…