Physical crude markets have retreated from last month’s spike above $160 per barrel, as China’s reduced import demand and stronger U.S. export flows tempered fears of a prolonged supply shock from the conflict around the Strait of Hormuz. Benchmark futures for Oil – Brent Crude and Oil – US Crude have consequently underperformed those extreme physical quotes, undermining earlier bullish calls that anticipated a sustained price squeeze.
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Over the past month, Oil – US Crude has gained about 6.38%, while Oil – Brent Crude is up roughly 3.46%, moves that suggest resilience but not the runaway rally some traders expected. On a 1-day basis, both WTI and Brent screen as Hold and Hold, signaling a more balanced near-term technical backdrop as the market reassesses geopolitical risk versus demand headwinds.
Investors can explore more updates, prices, and analysis across global markets at Commodities.