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 about 14 hours 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