Physical supply of oil is tighter than futures market indicates.
Traders lack sufficient information to accurately price oil.
Geopolitical tensions, particularly regarding Iran, are influencing market dynamics.
Briefing: Chevron CEO says Iran war impact isn't fully priced into oil market, traders have ‘scant information’
Strategic angle: Chevron CEO Mike Wirth highlighted the disparity between physical oil supply and futures market pricing amid ongoing geopolitical tensions.