BBC Business Daily: Following the money behind a barrel of oil

What does the oil price you read about in the news actually tell you? Less than you might think.

Trafigura's Chief Economist, Saad Rahim, was interviewed on BBC Business Daily’s latest programme, which follows the money behind a barrel of oil — from oil field to fuel pump.

Saad explained the distinction between the price of oil in financial markets and the physical reality: "That price represents something that you can trade, like a stock or a bond, but it doesn't actually give you the physical barrel of oil. There's a gap between the Brent on the screen versus dated Brent, which is the first step in that physical market."

Listen to the full episode here.