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Chevron CEO Mike Wirth says physical crude delivered to Asia is near $150 a barrel despite $105 on screens

AI Market Summary
Chevron's CEO highlighted a sharp dislocation between futures ("screens" near $105) and physical crude delivered into Asia (closer to $150), attributed to elevated shipping risk and thinner supply buffers. The signal points to acute tightness in prompt physical markets and rising geopolitical/transport premia, which can tighten global energy conditions and spill over into inflation expectations and risk asset positioning.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT+2.71%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▲ Bullish
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Chevron CEO Mike Wirth said physical crude shipped to Asia is approaching $150 a barrel, far above the $105 shown on screens. He said rising shipping risks and shrinking supply buffers are distorting the oil market. That has opened a pronounced gap between physical prices and futures prices.
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