Market News / Story
Oil and fuel supply buffers thinning as Middle East war drags on, Chevron CEO says
Seeking Alpha ·
Seeking Alpha reports: The energy system is more fragile than earlier in the Middle East war as the underlying fundamentals of the oil and gas market become tighter, Chevron CEO Mike Wirth said Tuesday, as reported by Reuters. The landed price of physical oil in Asia is currently closer to $150/bbl than current Brent prices of ~$100/bbl, Wirth said at the Energy Intelligence Forum in London. As well as strong physical crude prices, the world is facing increasing tightness of refined…