Brent spot price soars to $141, highest since 2008

Spot Brent for physical cargoes due within weeks jumped to $141.36 on Thursday, the highest level since the 2008 financial crisis. That spot price traded about $32.33 above the June futures contract, which closed at $109.03. S&P Global tracks the data, and Amrita Sen of Energy Aspects said futures are giving markets a false sense of security. The divergence signals near-term supply tightness, raises fuel and inflationary pressures, and increases downside risks to global growth.