BRENT BARRELS
04/27/2026 |
The price gap between dated Brent (reflecting trading/pricing for a given cargo of crude oil as it’s loaded into a crude carrier) vs front-month Brent futures (which is priced for delivery in several months) is usually $1-$2. Currently it’s $25 because the Strait of Hormuz is closed but is expected to be open in two months. Thus, oil today is way more valuable than oil tomorrow. Don’t confuse the prices.