A closely watched North Sea oil-price indicator is reflecting little of the demand destruction that the coronavirus has wrought on global markets. Brent crude futures for April, the most immediate contract, are trading 61 cents a barrel higher than to May. A little over two weeks ago the same spread reached a discount of 36 cents. A premium normally indicates that buyers need supplies more urgently. Similarly, so-called contracts for difference measuring the short-term condition of physical crude markets have been trading in a bullish structure since February 6. The surprising surge comes at a time when Chinese ... (full story)