Oil prices are yet to reflect all of the millions of barrels of crude lost to supply disruptions, according to Australia & New Zealand Banking Group Ltd. Almost 2.5 million barrels a day of supplies have been removed from the oil market this year because of outages from Canada to Nigeria, with most of them occurring over the past month, ANZ analyst Daniel Hynes wrote in a report dated May 19. The disruptions are not only set to remain in place, but intensify over the coming weeks, according to the bank. “The fact that oil hasn’t pushed through $50 a barrel suggests the market is discounting the impact of the disruptions,” the analyst wrote in the report. “As these issues linger on, we expect an increasing supply risk premium will price into the market.” Brent crude, the benchmark for more than half the world’s oil, has surged more than […]