Physical oil and futures align to tell story of a tighter market
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LONDON (Reuters) - The physical crude oil market and the structure of the oil futures curve have rarely been more aligned over the past few years than in recent weeks, and they tell a counterintuitive story of a tight oil market next year. While OPEC and the International Energy Agency point to a swelling oil glut next year due to booming non-OPEC supplies including in the United States, the physical market offers a different story.Traders are prepared to pay near-record premiums for..