Brent crude spot prices hit a record high

NightAirdropper · 2026-04-11T19:11:55+00:00

The Strait of Hormuz crisis worsened, leading European and Asian refiners to pay record-high prices for spot crude oil, with Brent crude spot prices soaring to $146.09, exceeding futures prices by $36, mainly due to panic over supply shortages.

NightAirdropper

2026-04-11 19:11:55

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Gelonghui April 8 | The Strait of Hormuz crisis is worsening, and European and Asian refiners are paying record-high prices for some spot crude oil, far exceeding paper futures prices. According to data from the London Stock Exchange Group (LSEG), the spot price of Brent North Sea Forties crude oil briefly rose to $146.09 per barrel on Tuesday, higher than the 2008 level, and hit the highest level on record. The Brent spot price is more than $36 above the futures for June delivery. Oil trader Adi Imsirovic said the main factor driving the price rise is panic about supply. He said, “When there is a real spot shortage, people won’t consider the July delivery—that is, the futures price for June loading—but will instead focus on the current spot price of oil.” Brent June futures closed at $109.27 per barrel on Tuesday, down 0.45%.

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