USO sits near its 52-week high of $172, but its price rests on a futures war premium that the physical market is already discounting.
Goldman Sachs trader Peter Hackworth said 'Needless to say this does NOT suggest a tight market' as North Sea offers found no buyers.
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One cargo of the Republic of Congo's Djeno crude reportedly sold at $25 under Dated Brent. A month earlier, refiners were paying up for any barrel that could load soon.
Dated Brent is the price of physical North Sea cargoes loading in the next few weeks. ICE Brent futures are contracts for later delivery. In early October, Dated traded $30 a barrel above futures, and by November 3, 2026, that premium had shrunk to roughly $3.70 a barrel.
#futures #market
Goldman Sachs trader Peter Hackworth said 'Needless to say this does NOT suggest a tight market' as North Sea offers found no buyers.
Just released. Our ***** ysts combed the entire stock market and named the ten best stocks to buy right now, and Exxon Mobil didn't make the cut. Enter your email to see the names that beat XOM. The report is free. Enter your email and see if any of your stocks made the cut.
One cargo of the Republic of Congo's Djeno crude reportedly sold at $25 under Dated Brent. A month earlier, refiners were paying up for any barrel that could load soon.
Dated Brent is the price of physical North Sea cargoes loading in the next few weeks. ICE Brent futures are contracts for later delivery. In early October, Dated traded $30 a barrel above futures, and by November 3, 2026, that premium had shrunk to roughly $3.70 a barrel.
#futures #market
1 day ago
