By SIMON CONSTABLE
Get ready for a surge in Europe's benchmark oil price: Brent crude.
There's a shortage of crude in Europe, and the price of Brent futures contracts doesn't reflect that stark reality, according to a new report.
"We expect the tightness in the physical market to impact the financial market, and see Brent rising to $75/[barrel] over the coming weeks," UBS wrote in a recent research note. "The physical market in Europe is scrambling to obtain sufficient barrels." Read more here.
Get ready for a surge in Europe's benchmark oil price: Brent crude.
There's a shortage of crude in Europe, and the price of Brent futures contracts doesn't reflect that stark reality, according to a new report.
"We expect the tightness in the physical market to impact the financial market, and see Brent rising to $75/[barrel] over the coming weeks," UBS wrote in a recent research note. "The physical market in Europe is scrambling to obtain sufficient barrels." Read more here.
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