SINGAPORE (Bloomberg) --From the Middle East to Siberia, the North Sea down to Latin America, the prices of physical cargoes of crude oil are rallying hard almost everywhere, underpinning a surge in headline futures markets. Now, though, attention is turning toward just how sustainable the recovery will really be.
Brent crude traded on the ICE Futures Europe exchange has nearly doubled over the past month and is trading above $36 a barrel, while America’s West Texas Intermediate -- which dipped into negative territory at one stage -- has also soared. All that’s happened because global producers have slashed millions of barrels of output tightening the real supply of oil, while demand has started to recover, led by China.
https://www.worldoil.com/news/2020/5/21/physical-oil-prices-are-surging-worldwide-but-can-it-last
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