
AI-generated summary
The Strait of Hormuz is an important global crude oil transportation channel, and its obstruction directly affects global crude oil supply. North Sea Brent crude oil spot crude oil reflects the short-term actual delivery price and serves as a leading indicator for the market.
(Bloomberg file photo)
[Financial Channel/Comprehensive Report] As global crude oil buying intensifies and the actual blockade of the Strait of Hormuz becomes prolonged, spot oil prices have reached unprecedented levels.
Based on foreign media reports, North Sea Brent spot crude oil (Dated Brent) refers to the price of crude oil actually delivered within the next 10 to 30 days. According to data from the London Stock Exchange Group (LSEG) since 1991, the spot price of North Sea Brent crude oil once exceeded US$154 per barrel on October 5, setting a record high.
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This price also surpassed the high set in April 2026. The spot price of North Sea Brent crude oil subsequently fell slightly, but it still remained at a high level of over US$149 per barrel on Friday (9th).
The spread between North Sea Brent spot crude and the Brent futures benchmark widened to more than $50 last week, hitting a record high.
Brent crude oil futures were trading at about $152.27 per barrel as of the 12th. Such a large gap in market prices mainly reflects that traders still have doubts about whether crude oil transportation in the Strait of Hormuz can be resumed.
The analysis pointed out that as transportation in the Strait of Hormuz is blocked, global crude oil inventories continue to decline, and the demand for heating fuel is about to increase in winter, further increasing market supply pressure. Although North Sea Brent crude oil is mainly supplied to the European market, due to the convenience of tanker transportation, the price is also susceptible to changes in global crude oil supply and demand.
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AI outlook — possibilities, not facts
If the blockade of the Strait of Hormuz continues, North Sea Brent crude oil prices may rise further in the short term.
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