The scarcity premium embedded in the structure of Brent crude oil futures has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally that pundits increasingly predict will push the market to $100 a barrel. The premium of the immediate Brent crude contract to the December 2022 price stood at $9.50 a barrel on Tuesday after reaching $9.87 on Monday. The value on Monday was the highest since 2013, Refinitiv Eikon data showed. Widest since 2013 on Tight Supply Brent’s outright price has surged more than 60% this year, driven by a wider energy crunch as economies recover from the pandemic and the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, raises output only slowly. As well as OPEC+ supply restraint, surging natural gas prices, which have encouraged a switch to oil for power […]