What’s happening with Brent crude and African crude prices, and why physical oil hits $150 as Europe pays record premiums amid Strait of Hormuz disruption and global supply shock fears

This is real, and from today.

There is a severe dislocation between what markets expect in terms of oil supply, and the state of the current physical market.

Currently, bidding for real, physical barrels has driven prices to record highs. Today.

Futures markets though continue not to price this, leaving refineries high and dry when they have to secure barrels.

This, in my opinion, is what happens when market participants look at all the wrong indicators (Truth Social), instead of the right ones (shipping flows of inventory).