Physical Brent crude surged above $154 per barrel, its highest level since records began in 1991.
The gap between physical oil prices and Brent futures has widened to a record $50+ per barrel.
Buyers are paying huge premiums to secure immediate oil supplies as disruptions in the Strait of Hormuz and tanker shortages continue.
This shows just how serious the global oil supply situation has become.
I dont thin k folks who are actually following Trumps Middle East clusterfuck war have any clue about the repercussions we're going to be seeing for years.
Well, trump did tell MBS that saudi would be the hottest country in the world as long as he was president... "You're hotter, at least as long as I'm up here. You're hotter."
"The United States is the hottest country, with the exception of your country," he told Prince Mohammed. "I have to say right, I won't. I'm not going to take that on. No, Mohammed, I'm not going to take that on. Wouldn't that be a terrible thing if I made that full statement? But I will get to it. You're hotter, at least as long as I'm up here. You're hotter."
Remember, MBS didn't realize he would be kissing trump's ass...