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4 months ago

Version History

53 additional sources confirmed this story

Version 84 months ago

What changed: Updated the story to include market 'blindness' and price volatility caused by the lack of precise data on damaged infrastructure.

Version 74 months ago

What changed: Brent crude jumped to $114, widening the spread with WTI to an 11-year high of $18, driven by specific attacks on Gulf energy infrastructure.

Version 64 months ago

What changed: The story was updated to include technical analysis dimensions indicating strong price breakouts, adding new speculation that sets a $150 target for global crude benchmarks.

Version 54 months ago

What changed: Updated the story to include reports of attacks on energy infrastructure, rising gasoline prices, and the widening Brent premium.

Version 44 months ago

What changed: Added expert analysis from The Carlyle Group suggesting that current market prices do not fully reflect the potential supply disruptions caused by the geopolitical conflict involving Iran.

Version 34 months ago

What changed: The report was updated to include new Brent and WTI price levels and highlight the significant widening of the spread between the two benchmarks to $10.

Version 24 months ago

What changed: Oil prices dipped slightly as Iraq resumed crude exports via Turkey, offering a supply route that bypasses the Strait of Hormuz.

Version 14 months ago

What changed: Added API data showing a build in U.S. crude inventories and the subsequent slight price dip on Wednesday morning.

CommoditiesMediumUpdated×8•Originally published 17 March 2026•Updated 19 March 2026•

1 min read

Oman Oil Surges Above $150 as Buyers Scramble for Barrels Outside Strait of Hormuz

Key Facts

1Oman oil prices soared above $150 per barrel as buyers rushed to replace supplies trapped in the Gulf.

2The closure of the Strait of Hormuz has caused a major dislocation between global benchmarks and the cost of physical supplies.

3Omani crude is seen as a primary alternative as it is loaded outside the blocked Strait of Hormuz.

Oman crude oil prices remained stable above $150 per barrel as the Strait of Hormuz blockade continues to drive demand for alternative loading points. Brent crude surged 7% to reach $114 per barrel, widening its spread against WTI to an 11-year high of $18. However, markets are currently 'trading blind' due to a scarcity of precise data regarding damaged energy infrastructure targets. The rapid pace of shifting battlefield conditions has triggered irregular price gyrations, leaving investors struggling to price in the full extent of the disruptions. Jeffrey Currie of The Carlyle Group noted that the market is still underestimating the supply shock resulting from the regional conflict. Consequently, seaborne crude markets face intensifying stress as participants navigate extreme volatility and a lack of reliable information.

Sources:

ft.com

seekingalpha.com

rigzone.com