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Oil markets are tighter than they look

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Published07 JUL 25 - 11:23 Reading time  minutes

Oilprice.com, July 7, 2025 – Neil Crosby, AVP Oil Analytics, writes in Oilprice.com that despite weak demand signals, physical oil markets remain tight due to refinery closures, strong margins, and resilient product demand. Backwardated timespreads highlight underlying tightness, with risks from Middle Eastern and Indian flows to Europe, Red Sea disruptions, and potential US sanctions likely to drive bullish moves.

Topics Crude
Author

Neil Crosby

Head of Research

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