Energy & Climate

Futures Price Announcements. Physical Oil Prices Execution. The Gap Is $48 a Barrel.

Physical Brent crude hit $145 a barrel in the ship-to-ship market this week while futures held near $97. The $48 spread is what execution risk looks like when it is priced into oil. The Operator audits every plan to reopen the Strait of Hormuz and names the failure point in each.