The structure of Brent crude oil futures is showing a “scarcity premium” that has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally amid a wider energy crunch as economies recover from the COVID-19 pandemic. The premium of the immediate Brent crude contract to the December 2022 price stood at $8.13 a barrel on Friday after reaching $8.30 on Monday. The value on Monday was the highest since 2013, according to Refinitiv Eikon data. Widest Since 2013 One of the main factors underpinning prices has been the reluctance of the Organization of the Petroleum Exporting Countries and allies, known as OPEC+, to ease supply cuts, made during the worst of the […]