BlockBeats news: On April 3, spot Brent crude oil (the North Sea physical delivery benchmark) broke above the $140 per-barrel high. This is the highest level since 2008. According to S&P Global, the price of Brent crude oil delivered in the North Sea reached $141.37 per barrel, the highest level since 2008. The Strait of Hormuz has now been closed for more than a month, causing what the International Energy Agency calls the largest supply disruption in the history of the oil market.
The strait accounts for about one-fifth of global oil transport volumes, and refineries have been scrambling over these past weeks to obtain any oil they can get. A day earlier, spot Brent crude was still slightly below $128 per barrel, but the current price is now higher than the peak of the 2022 Russia-Ukraine crisis. The benchmark Brent crude futures price remains below that level at the time, but spot Brent crude represents the price of crude oil trades over a shorter period of time. (Jin10)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
