Diane Swonk: Physical oil prices exceed futures as buying competition intensifies

Diane Swonk: Physical oil prices exceed futures as buying competition intensifies
Spot oil prices climb above futures

Diane Swonk highlights a widening gap between spot and futures prices for oil. She observes that competition for physical barrels remains strong, pushing spot prices as high as $133 compared with a $99 futures price.

Swonk indicates that for actual buyers of oil, physical prices matter most in current market conditions.

Swonk has previously discussed how conflict in Iran is driving global supply chain disruption and higher U.S. freight costs, according to her recent analysis. She has also noted that Gulf countries are expanding their influence in global finance through their sovereign wealth funds, as seen in her report on Gulf wealth. These issues add to concerns over the mounting pressure on commodity markets.

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