As Global Oil Prices Skyrocket, US Crude Is Lagging Behind

Benchmark oil prices are soaring after the war in the Middle East disrupted trading flows, producing some of the largest price gaps between U.S. crude and other global grades in years. The rally is uneven across regions, widening spreads and creating dislocations in physical flows, refining margins and freight that raise near-term volatility and operational risk for energy portfolios.

Analysis

Benchmark oil prices are soaring after the war in the Middle East disrupted trading flows, producing some of the largest price gaps between U.S. crude and other global grades in years. The rally is uneven across regions, widening spreads and creating dislocations in physical flows, refining margins and freight that raise near-term volatility and operational risk for energy portfolios.