Commodities
Surging Physical Oil Market Brings $100 Crude Back in Sight
- Crude cargoes fetch large premiums as refiners chase profits
- Analysts increasingly see risk of a brief jump over that level
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As crude futures leap higher, traders and analysts are increasingly talking about when — not if — prices return to $100 a barrel.
Across the world, premiums for physical barrels are surging. Supplies from the Middle East, Azerbaijan and even Russia are commanding premiums as refiners clamber to make enough diesel ahead of a seasonal ramp up in demand.