• Brent futures fell below $100 last week
  • Some physical crude bids, offers at record highs
  • Outages, strong demand support the physical market

LONDON/NEW YORK, July 18 (Reuters) – Benchmark oil prices have fallen by around $15 a barrel over the past 10 days as the threat of a recession cloud the demand outlook, but physical oil trading and futures market structure say otherwise from history.

Growing concerns over the economic outlook pushed Brent crude below $100 a barrel for the first time last week…

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