Oil Curve ‘Might Be Kind of Lying’ About Prices, CEO Says (1)

The upheaval in the oil market from the near-shutdown of the Strait of Hormuz is more severe than what benchmark crude futures prices are signaling, according to the boss of one of the biggest US shale drillers.

The US-Israeli war on Iran that’s paralyzed hundreds of millions barrels of crude in and around the combat zone is wreaking havoc on fuel, fertilizer, plastic and chemical markets as far afield as Asia, Australia and North America.

However, the so-called forward curve of futures prices that underpin budget decisions and trading strategies across the oil industry is failing to reflect the true ...