Oman Crude Surges Past $150 as Gulf Supply Disruption Roils Markets
TL;DR Summary
Strait of Hormuz closures amid Middle East conflict are forcing buyers to seek Gulf-like substitutes, pushing Oman crude above $150 a barrel (near $154) and driving regional benchmarks to record highs while widening the gap between physical oil prices and Brent/WTI futures; higher tanker costs and longer routes add to the strain on Asian refiners and global markets.
- Oil in Oman soars above $150 as buyers rush to replace Gulf barrels Financial Times
- Oil prices jump as Iran warns Strait of Hormuz ‘cannot be the same’ CNN
- Oil Prices Rise After Iran’s Threats to Retaliate for Gas-Field Strike WSJ
- War in Middle East has ‘heightened the risks to the global economy’; markets in ‘panic mode’ as oil jumps and shares fall – as it happened The Guardian
- Oil prices settle up 3% after renewed Iranian attacks on UAE Reuters
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