US crude is trading at a near $12 discount to Brent, the widest since early 2015, as Middle East conflict disrupts Persian Gulf flows. WTI futures settled around $96/bbl, while some Middle East grades top $150. US supplies, including light-sweet crude and emergency reserves, remain ample, cushioning prices. Analysts note the gap reflects geographic market tightness and hedging effects from SPR releases. Imports from Venezuela and rising Gulf Coast inflows further bolster US supply, limiting the

US crude is trading at a near $12 discount to Brent, the widest since early 2015, as Middle East conflict disrupts Persian Gulf flows. WTI futures settled around $96/bbl, while some Middle East grades top $150. US supplies, including light-sweet crude and emergency reserves, remain ample, cushioning prices. Analysts note the gap reflects geographic market tightness and hedging effects from SPR releases. Imports from Venezuela and rising Gulf Coast inflows further bolster US supply, limiting the impact of global oil shocks.