ReportedShipping, energy & marketsEuropean physical oil market
Dated Brent rises above $120 as physical crude markets tighten
- Mountain Time
- Local time
- 4:50 PM UTC
- Where
- European physical oil market
Dated Brent, Europe’s main physical crude benchmark, rose above $120 per barrel even as ICE Brent moved toward $101, according to OilPrice.com.
Why it matters
The divergence means refiners and physical-cargo buyers may face much higher prompt supply costs than the futures benchmark suggests.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels