The Brent–WTI front-month spread is expected to normalize if the recently agreed US-Iran cease-fire holds, according to Capital Economics’ Hamad Hussain. Brent typically trades at a premium to WTI, but the relationship has inverted amid the conflict, with Brent at $96.48 a barrel and WTI at $98.77. The widening WTI premium reflects near-term supply tightness following Middle East disruptions, while expectations of easing conditions in coming months have also influenced pricing dynamics across th

The Brent–WTI front-month spread is expected to normalize if the recently agreed US-Iran cease-fire holds, according to Capital Economics’ Hamad Hussain. Brent typically trades at a premium to WTI, but the relationship has inverted amid the conflict, with Brent at $96.48 a barrel and WTI at $98.77. The widening WTI premium reflects near-term supply tightness following Middle East disruptions, while expectations of easing conditions in coming months have also influenced pricing dynamics across the crude curve.