Morgan Stanley: The war has only put pressure on the Brent crude oil market and has not caused it to collapse

Morgan Stanley stated that the increasing pressure caused by the Middle East conflict in the oil market has led to a significant premium in spot delivery physical crude oil prices, while the entire Brent crude market remains functioning normally. Analysts like Martijn Rats mentioned in a report on April 7 that buyers are willing to pay a “very high premium” for safe, reliable Atlantic Basin crude oil available for refineries in the current market. They said, “This does not mean that the futures market has collapsed. It simply means that different parts of the market are pricing a different combination of immediacy, tension, and expected duration.”