The Economic Times

Whats happening with Brent crude and African crude prices, and why physical oil hits $150 as Europe pays record premiums amid Strait of Hormuz disruption and global supply shock fears

Brent crude and WTI oil prices are under sharp focus as physical crude for Europe has surged near $150 a barrel, based on LSEG data. This gap between futures and real oil signals a live supply crunch. The Strait of Hormuz disruption has tightened global flows. Traders are scrambling for immediate cargoes. African crude prices are also hitting fresh highs. This shows replacement demand is rising fast. Fuel shortage risks are building across Europe and Asia. Inflation pressure is returning. Energy markets are turning volatile again.