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Brent Crude

Global oil benchmark; Brent hit $87 intraday 14 July as Hormuz blockade returned by force.

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#1715 Jul

Settled $84.73, carrying almost the entire spread widening

European Oil Markets: Brent-WTI gaps to $5.13 on Hormuz
#15414 Jul
#1613 Jul

Climbed about $6 as Urals failed to follow the rally

European Oil Markets: Urals held below Russia's budget floor
#1613 Jul

Traded near $79.16, the highest since 22 June

European Oil Markets: Freight has not confirmed the spike
#1509 Jul

Held its war premium through the exchange

Iran Conflict 2026: Oil keeps its war premium near $78
#1518 Jul

Fell to about $75.80 despite the strait's near-closure

Iran Conflict 2026: Hormuz goes dark as tankers flee
#158 Jul

Settled 5.2% higher at $78.02, briefly topping $80 intraday

European Oil Markets: Hormuz risk lifts the Brent-Dubai EFS
#1498 Jul
#1486 Jul
#146 Jul

Settled at $71.42, absorbing most of the post-decision softness

European Oil Markets: Brent-WTI blows out as price sits still
#146 Jul

Firmed on the OPEC+ decision and Hormuz normalisation, widening the gap to Urals

European Oil Markets: Urals stalls; the discount blows to $20
#132 Jul

Fell to around $70.6-71.7 a barrel

European Oil Markets: Brent grinds to $70 into OPEC+ weekend
#1462 Jul

Held steady in the low $70s through the mourning week

Iran Conflict 2026: Hormuz tanker count back to pre-war
#1230 Jun

Fell approximately 30% over Q2 2026, settling near $72-73 at quarter-end

European Oil Markets: Brent ends worst quarter since 2020
#14230 Jun

Traded in a $71.74-$73.20 band, flat to down against the 29 June settle

Iran Conflict 2026: Trump talks $2.50 petrol, signs nothing
#14128 Jun
#1227 Jun

Held compressed speculative length following the recent book flush

European Oil Markets: WTI longs hold, Brent book stays thin
#13724 Jun

Fell to $76.14 on 24 June as Hormuz transit confidence improved

Iran Conflict 2026: Trump orders a DOJ oil-gouging probe
#1124 Jun

Widened to approximately $22 as Brent held near $73 while Urals fell to $50

European Oil Markets: Urals slips below Russia's budget line
#13522 Jun
#1122 Jun
#13622 Jun

Fell to about $78 on 22 June, pricing relief not a settled war

Iran Conflict 2026: The paper says open, water says shut
#13420 Jun
#13319 Jun

Steadied near $80 a barrel on 19 June

Iran Conflict 2026: Saudi tankers moved, Hormuz stayed shut
#13118 Jun

Fell 6.9% to $77.22 on 18 June, pricing a reopening not yet reflected in insurance or transit data

Iran Conflict 2026: Oil prices a Hormuz reopening that has not happened
#1018 Jun

Fell to $77.73 on MOU signing then bounced to $80.57 on talks collapse

European Oil Markets: Brent whipsaws as spreads ignore deal
#917 Jun

Fell to $78.96 on 17 June, a three-month low, then dropped ~2% further on 18 June

European Oil Markets: Brent hit a three-month low at $79
#13016 Jun
#12815 Jun
#12915 Jun
#12612 Jun
#812 Jun

Fell more than 4% intraday to $85.80 on 12 June, settling at $87.33

European Oil Markets: Longs rebuilt into an 8-week low
#12512 Jun
#12411 Jun

Eased 1.7 per cent to $94.71 after CENTCOM said strikes complete

Iran Conflict 2026: Brent slips to $94.71 the day Hormuz is declared shut
#711 Jun

Settled $92.69 on 11 June, reversing 5.3% from the $97.82 squeeze peak

European Oil Markets: Brent round-trips squeeze onto short base
#710 Jun
#68 Jun

settled 5.08% higher at $97.82 on short-covering rally

European Oil Markets: Brent jumps 5.08% on Monday short-squeeze
#53 Jun

Rebounded across three sessions into Wednesday on the draw data

European Oil Markets: Sixth straight draw, flat price mute
#1163 Jun
#1151 Jun

Spiked 7% intraday to $97.47 before settling at $94.98 on Iran's talk suspension

Iran Conflict 2026: Brent jumps 7%, rial hits record low
#1141 Jun
#429 May

settled at $94.06 on 29 May, widening the Brent-WTI spread to ~$3.55

European Oil Markets: Brent-WTI spread widens out to $3.55
#11329 May

settled at $92.05 on 29 May, falling more than 19% across May on unsigned-deal optimism

Iran Conflict 2026: Brent's worst month since the Covid crash
#328 May
#11027 May

Fell below $95/barrel on 27 May then recovered to ~$96 on 28 May

Iran Conflict 2026: Brent hits conflict low, then rebounds
#10826 May
#526 May

Flipped to net long +52,000 as managed money rotated from WTI

European Oil Markets: WTI unwind done, the spread is loaded
#10725 May

Fell 5% to $98.96, first sub-$100 print since early May

Iran Conflict 2026: Brent breaks $100 as insurers hold
#223 May

Fell $14 from $110.34 to $96.14 over 20-24 May on Iran MOU announcement

European Oil Markets: Brent loses $14 in four sessions
#10522 May

Fell to $104.93 on 22 May as the $5 IEA-spread closed after the Khamenei directive and pulled House vote

Iran Conflict 2026: Brent reprices around Khamenei's uranium directive
#10420 May
#10319 May
#219 May

WTI flips to +172,580 net long

European Oil Markets
#10118 May

Opened at $110.30 in Monday Asian trading, the first $110-plus print of the war

Iran Conflict 2026: Brent breaks $110, ADNOC bypasses Hormuz
#10218 May

Settled at $112.10 on 18 May then reversed to $110.98 on 19 May

Iran Conflict 2026: Brent prints $112.10 conflict high, reverses
#9916 May
#9714 May

Fell $1.05 to $106.0 on summit Day 1, pricing a holding pattern not a breakthrough

Iran Conflict 2026: Brent $106 on summit Day 1; buffers near exhaustion
#112 May
#112 May
#111 May
#9411 May

Broke $101 Hormuz premium floor, opening at $104.71 in Monday Asian trading

Iran Conflict 2026: Brent breaks $101 Hormuz floor at $104.71
#9511 May

Settled at $104.21 on 11 May, up $2.92 on Trump's verbal statements

Iran Conflict 2026: Aramco warns of a 17.5% shock
#9310 May
#917 May

Climbed to $101.20 on 8 May, reversing three sessions of losses

Iran Conflict 2026: IRGC fires on US destroyers in Hormuz
#917 May

Climbed to $101.20 on 8 May driven by the Hormuz exchange of fire

Iran Conflict 2026: CENTCOM redirections rise to 52, pace slows
#13 May
#861 May
#8430 Apr
#8530 Apr

Settled at $123/bbl on 30 April, the wartime settle high

Iran Conflict 2026: OPEC+ Seven agree 206k bpd June increase
#8328 Apr

Settled at $111.16/bbl, up 2.71%, new post-war high on 28 April

Iran Conflict 2026: Brent hits $111.16, a new post-war high
#8025 Apr

Settled at $105.33 per barrel on 25 April, up 16% on the week

Iran Conflict 2026: Brent settles $105.33, war's biggest week
#7824 Apr

Closed at $105.73 on 24 April, new post-extension high, 57% above pre-war baseline

Iran Conflict 2026: Brent closes at $105.73, dark activity rises
#7723 Apr
#7621 Apr

Crossed $100 on expiry morning then retreated to $97.91 after extension post

Iran Conflict 2026: Brent touches $100 on expiry, closes at $97.91
#7420 Apr

Closed up 7% to $96.88 on Monday after a 9% Friday drop

Iran Conflict 2026: Brent round-trips 9% down and 7% up in a weekend
#7217 Apr

Fell 9.07% to $90.38 on the opening announcement and reversed when the strait closed

Iran Conflict 2026: Hormuz opens then closes in 24 hours
#6914 Apr

Closed at $94.79 on 14 April, 40 per cent above pre-war baseline

Iran Conflict 2026: Brent at $94.79: markets price the gap
#6713 Apr

surged 8% above $103 on blockade announcement

Iran Conflict 2026: Oil surges past $103 on blockade
#6612 Apr
#552 Apr
#551 Apr
#551 Apr
#551 Apr
#5531 Mar
#5520 Mar
#82 Mar

Spiked as Kuwait refinery took Iranian shrapnel hit

Iran Conflict 2026: Kuwait refinery hit by Iranian shrapnel
#72 Mar

Priced third tanker attack near Hormuz in 72 hours

Iran Conflict 2026: Third ship hit near Hormuz in 72 hours
#72 Mar
#82 Mar
#71 Mar

Fell 70% in Hormuz flow; 150 tankers anchored waiting

Iran Conflict 2026: Hormuz down 70%; 150 tankers at anchor
#71 Mar

Fell as Maersk and CMA CGM halted all Hormuz transits

Iran Conflict 2026: Maersk and CMA CGM halt Hormuz transits
#71 Mar

Climbed on $4,000-per-box Hormuz surcharge imposition

Iran Conflict 2026: $4,000-per-box Hormuz surcharge imposed
#41 Mar

Priced in Hormuz risk as US ships came under fire

Iran Conflict 2026: Hormuz open in name; US ships targeted
#61 Mar

Opened at $82.37/barrel, up 11% on war's first day

Iran Conflict 2026: Markets bet on short war: Brent $82
#61 Mar

Priced in recession risk as JP Morgan raised odds to 35%

Iran Conflict 2026: JP Morgan raises recession odds to 35%
#228 Feb

Held at $73 as $150 oil forecast proved wrong

Iran Conflict 2026: Brent at $73: oil forecast of $150 fails