>You can see this for example in the absurd discrepancy between paper and physical crude prices.

This was a temporary discrepancy that has gone away now that physical prices have fallen.

This means the future traders were right; the $150+ prices for a physical barrel of oil were a short-term situation that would resolve in a few months. It was correct for futures to be priced substantially lower.

What's absurd is internet commentators thinking the market is broken because they see something they don't immediately understand.