Dated Brent previously peaked above $154 per barrel on October 5, the highest level since LSEG began tracking data in 1991. The supply squeeze is driven by tanker shortages and security threats in the Strait of Hormuz, which have forced cargo rerouting and increased logistics costs. Some traders argue the disconnect is so extreme that Brent futures should be priced between $150 and $160 to match the scarcity of real-world demand.
Tuesday, October 20, 2026
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US Landed Brent Hits $141 for First Time Since 2008
Commodities3 days ago
International oil buyers are paying a premium of up to $50 per barrel over benchmark paper contracts to secure immediate physical deliveries of crude. The landed price for Brent imports into the US recently hit $141 per barrel, the highest level for those shipments since 2008, while benchmark paper prices hover around $110. This gap reflects a severe dislocation in the market where physical barrels trade at a steep premium to hedge futures.
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