US EditionPhysical Oil Prices Hit Record Highs Near $150 a Barrel as Hormuz Crisis Worsens
Physical crude grades neared $150 a barrel as Asian and European refiners competed for prompt barrels, Reuters reported.
- On Tuesday, European and Asian refiners paid record prices near $150 a barrel for crude, reflecting the worsening supply crisis from the U.S.-Israel war with Iran.
- The conflict has forced the shutdown of at least 12 million barrels per day, about 12% of world supply, due to Iran's closure of the Strait of Hormuz.
- Veteran oil trader Adi Imsirovic described the market as being in "panic" over supplies, while dated Brent is trading almost $20 higher than June futures for immediate delivery.
- Competition for supply has driven refined product prices in Europe to near-record highs, with diesel standing at $203.59 a barrel on Tuesday and jet fuel at $226.40 a barrel.
- Dated Brent prices reached $141.365 on April 2, close to the 2008 record of $144.22, as refiners work to replace disrupted Middle Eastern oil flows with alternative crudes.
13 Articles
13 Articles
Actual oil prices near record $150 a barrel, outpacing futures trading | Honolulu Star-Advertiser
LONDON >> European and Asian refiners are paying record-high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper futures, highlighting the worsening supply crisis from the U.S.-Israel war with Iran.
Oil Hits Near $150 Amid Supply Crunch From Iran War
European and Asian refiners are paying record high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper futures, highlighting the worsening supply crisis from the U.S.-Israel war with Iran.
The Korea Times
Physical oil prices hit record highs near $150 a barrel as Hormuz crisis worsens
LONDON — European and Asian refiners are paying record high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper...
In the real world, the price of oil is nearing $150
Physical prices have surged to record levels. By Anders Lorenzen What we hear about the surging price of oil does not tell us the whole story about the volatile oil price; it is, in fact, far worse. While the two main crude oil benchmarks, Brent Crude and West Texas Intermediate (WTI), which is also known as Oil Futures, have circled around $105 to $115 per barrel (p/b) for the past few trading days, what is referred to as the physical price of …
BREAKING: Amid US/Israel Vs Iran War, Global Oil Price Reaches Highest Price As Hormuz Crisis Deepens
The Genius Media BREAKING: Amid US/Israel Vs Iran War, Global Oil Price Reaches Highest Price As Hormuz Crisis Deepens The Genius Media BREAKING: Amid US/Israel Vs Iran War, Global Oil Price Reaches Highest Price As Hormuz Crisis Deepens BREAKING: Amid US/Israel Vs Iran War, Global Oil Price Reaches Highest Price As Hormuz Crisis Deepens Dated Brent, the global benchmark for real-world, physical barrels of crude oil, reached $144.42 on Wednesd…
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