highlights

Immediate weeks on Brent CFDs at $2.30/b backwardation

Crude oil markets in the North Sea are supported by supply bottlenecks

Med market weakens as backwardation dampens activity

Supply disruptions from Kazakhstan, the North Sea and Libya, as well as shifts in typical trade flows as the market adjusts to the situation in Russia, have pushed the structure of the European crude oil market into extreme backwardation, with buyers being forced to pay hefty premiums for a quick…



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