Brent oil spot price for actual cargo soars to $141, highest level since 2008 financial crisis
By Spencer Kimball
Published on April 2, 2026.
The spot price for current physical cargoes has risen to $141.36, the highest level since the 2008 financial crisis. This price reflects demand for Brent oil that will be delivered within the next 10 to 30 days. The high price indicates a decrease in physical supply due to the disruption caused by the Iran's closure of the Strait of Hormuz. The futures price is seen as giving a false sense of security, according to Amrita Sen, founder of Energy Aspects.
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