Oil, Iran and Brent crude
Digest more
By Georgina McCartney and Siddharth Cavale HOUSTON/New York, March 18 (Reuters) - The discount for U.S. crude futures versus Brent on Wednesday hit the widest in 11 years, as attacks on Middle Eastern oil infrastructure drove the global benchmark higher while rising supply in the U.
Oil prices rose Friday even after Treasury Secretary Scott Bessent said Washington may soon lift sanctions on Iranian crude stored aboard tankers.
Oil prices remained elevated on Thursday, with the Brent-WTI spread widening to about $18 per barrel, as Iran ramped up attacks on Arab Gulf states' energy facilities after Israel targeted its South Pars gas field.
By Mohi Narayan and Florence Tan NEW DELHI, March 23 (Reuters) - Oil prices swung between gains and losses on Monday as investors weighed rising U.S. and Iranian threats over energy facilities against the release of millions of barrels of seaborne Iranian oil after Washington temporarily removed sanctions.
Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. Brent crude is seen averaging $85 per barrel this year, and West Texas Intermediate could see an average price of $79, Goldman Sachs commodity analysts ...
Fears over a prolonged disruption in the Strait of Hormuz have kept investors on edge as oil prices swung in volatile trading Monday.
OilPrice.com on MSN
Brent Jumps 7% to $114 as Spread With WTI Widens to 11-Year High
The Brent-WTI crude oil spread has widened to an 11-year high of roughly $18 per barrel as Middle East supply disruptions expose a deepening split between global and U.S. crude markets.
Stock markets plunged and oil prices surpassed $100 per barrel today amid the US war in Iran. How high will crude oil get? See the latest predictions.
Starting on March 4, 2026, Iran declared the Strait of Hormuz closed and began attacking ships attempting to transit oil and other commodities. The consequences for global oil supply have been immediate and severe.
Goldman Sachs late on Sunday raised its 2026 average price forecast for Brent crude oil to $85 per barrel (bbl) from $77, while raising its West Texas Intermediate (WTI) forecast to $79/bbl from $72.