Money
Oil Prices Surge to Unprecedented Levels Amidst Escalating Hormuz Crisis
As tensions in the Hormuz Strait continue to escalate, physical oil prices have surged to record highs, nearing $150 a barrel.
editorial-staff
1 min read
Updated 1 day ago
Summary
The ongoing crisis in the Hormuz Strait has significantly impacted global oil markets, pushing physical oil prices to record levels.
Currently, prices are approaching $150 a barrel, a figure not seen before in recent history.
The situation remains fluid, and further developments in the region could influence prices even more.
Updates
Update at 14:38 UTC on 2026-04-13
Oil & Gas reported Physical oil hits fresh record high near $150 a barrel as Hormuz crisis worsens Reuters. Reuters Energy reported Physical oil hits fresh record high near $150 a barrel as Hormuz crisis worsens Reuters.
Sources: Oil & Gas, Reuters Energy