{"id":374515,"date":"2026-04-04T10:07:14","date_gmt":"2026-04-04T10:07:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/374515\/"},"modified":"2026-04-04T10:07:14","modified_gmt":"2026-04-04T10:07:14","slug":"brent-oil-spot-price-surges-to-141-as-physical-cargoes-hit-highest-level-since-2008","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/374515\/","title":{"rendered":"Brent Oil Spot Price Surges to $141 as Physical Cargoes Hit Highest Level Since 2008"},"content":{"rendered":"

S&P Global data showed the spot price for current physical Brent crude oil surged on Thursday to $141.36, the highest level since the 2008 financial crisis.<\/p>\n

Written by:
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\n Olumide Adesina
\n <\/a><\/p>\n

\u2022
\n Saturday, April 4, 2026
\n \u2022
\n 1 min read<\/p>\n

\n \u2022
\n Last updated: Saturday, April 4, 2026\n <\/p>\n

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Quick overview<\/p>\n

The spot price for Brent crude oil reached $141.36, the highest since the 2008 financial crisis.A tight physical supply due to Iran’s closure of the Strait of Hormuz is driving up immediate oil delivery costs.Futures prices, ending at $109, may not accurately reflect the true supply disruptions, according to industry experts.Chevron’s CEO warned that the market is influenced by perception and lacks full transparency regarding the oil supply crisis.<\/p>\n

S&P Global data showed the spot price for current physical Brent crude oil surged on Thursday to $141.36, the highest level since the 2008 financial crisis.<\/p>\n

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The demand for Brent oil delivered within the next ten to thirty days is reflected in the spot price. There is currently a tight physical supply due\u00a0to the significant disruption caused by Iran\u2019s closure of the Strait of Hormuz, which is indicated by the high cost of more immediate oil deliveries. The price was $32.33 more than the June delivery<\/p>\n

Brent crude futures contract, which ended Thursday at $109. Amrita Sen, the founder of Energy Aspects, stated that the futures price is \u201calmost giving a false sense of security that things are not that stressed.\u201d Sen remarked, \u201cYou are seeing it, but the financial market is almost hiding the true tightness that is showing up everywhere else.\u201d A barrel of diesel currently costs close to $200 in Europe.<\/p>\n

Mike Wirth, CEO of Chevron, issued a warning last week that the futures price does not accurately reflect the extent of the disruption to the oil supply caused by the Strait\u2019s closure. According to Wirth, the market is based on \u201cperception\u201d and \u201cscant information.\u201d\u00a0 Wirth stated, \u201cThere are very real, physical manifestations of the closure of the Strait of Hormuz that are working around the world and through the system that I don\u2019t think are fully priced into the futures curves on oil.\u201d<\/p>\n

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Olumide Adesina <\/p>\n

\n Financial Market Writer\n <\/p>\n

\n Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.\n <\/p>\n