Market Data
Gulf Oil Prices
Crude oil benchmark prices sourced from the U.S. Energy Information Administration (EIA). Brent and WTI are global benchmarks directly affected by Gulf maritime security conditions.
Brent Crude
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WTI Crude
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Source: U.S. Energy Information Administration (EIA) · Updated daily
Why Oil Prices Matter for Gulf Security
Brent Crude is the global benchmark priced in the North Sea but dominated by Gulf supply. Disruptions to tanker traffic through the Strait of Hormuz or Bab-el-Mandeb directly impact Brent prices, which affect global energy costs.
WTI (West Texas Intermediate) is the U.S. benchmark. The spread between Brent and WTI widens during Middle East supply disruptions, reflecting the geopolitical risk premium on Gulf oil flows.
Approximately 21 million barrels per day — about 21% of global consumption — transits the Strait of Hormuz. IRGCN interdictions or Houthi attacks on tankers in the Red Sea cause immediate price reactions.