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…
