Societe Generale analysts Michael Haigh and Jeremy Sellem have identified a notable divergence between physical Brent crude and its futures contracts, with Dated Brent trading at a significant premium, according to FX Street.
The analysts also highlighted that the current strength in diesel prices indicates Brent crude oil should be priced above $150 per barrel to maintain traditional refining margins and economics.
This dynamic is particularly relevant for Japanese markets, where refining margins and fuel demand remain critical factors amid ongoing energy market volatility and shifts in global commodity pricing.