- Physical strength compounds futures rally as supply tightens
- Robust demand driven by high refining margins, export pull
Atlantic Trading and Marketing Inc., the trading arm of France’s TotalEnergies SE, is bidding up the US physical crude market, according to people familiar with the deals.
West Texas Intermediate crude for delivery at Cushing, Oklahoma, has jumped to its highest premium since November, and that’s on top of futures surging above $90 a barrel. Overseas buyers must pay an additional $1-$2 barrel to get the crude shipped to the Gulf Coast for export.
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