The price gap between global benchmark Oil – Brent Crude and Middle East Dubai crude has widened to its highest level since 2022, underscoring heightened supply risk around the Strait of Hormuz. Brent futures traded near $83–$84 per barrel on Tuesday, gaining over 7% intraday, while Dubai crude hovered close to $68, sending the Brent-Dubai Exchange of Futures for Swaps spread above $6 from under $2 before the Iran-related escalation.
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Over the past month, Brent has advanced about 17.17%, while U.S. benchmark Oil – US Crude has climbed roughly 13.90%, reflecting a broader risk premium being priced into crude benchmarks. On a one-day basis, technical indicators show a Buy signal for Brent and a Buy signal for U.S. crude, suggesting near-term momentum remains supportive despite the elevated volatility and widening regional spreads.
Investors can explore more updates, prices, and analysis across global markets at Commodities.