Why WTI Is Suddenly Trading $12 Below Brent ...Middle East

Oil prices edge higher as Hormuz diplomacy, soaring freight costs and diesel market fears drive a widening Brent-WTI spread. Oil prices are set for a slight 2% weekly gain, despite rumours that this week’s opening of the 2026 UN General Assembly sparked yet another diplomatic push to end Middle Eastern hostilities. Interestingly, the US benchmark WTI is set for a steep 7% decline as soaring freight prices and Trump’s toying with the idea of an export diesel ban soured the outlook for the American crude market. With WTI now trading $12…

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