GET THIS IN YOUR INBOX FIRST: Subscribe to CNBC's "Power Insider" newsletter. That's the real cost of a barrel of oil because buying the physical commodity is a very different story from a number on traders' screens. Oil futures are just that: paper contracts indicating a price today, tomorrow, next month or further out. If you want to buy the physical commodity, it may be a totally different story — and price. As I've reported , prices for oil delivery have skyrocketed. Last week, a VLCC (aka a "supertanker" in non-shipper parlance) was chartered from the U.S. Gulf Coast to China for $76 million. Another very large crude carrier went for $77 million from the U.S. to South Korea.
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