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April 16, 2026

Atlantic physical crude dynamics following Dated Brent’s all-time high

HIGHLIGHTS

Dated Brent hit record $144.42/b on April 7

War drives Atlantic crude differentials up

Physical markets reach unprecedented levels

Dated Brent's record high assessment by Platts of $144.42/barrel stole the headlines on April 7, but physical market fundamentals in the Atlantic basin have similarly brought cash differentials for individual crude oil grades across the North Sea, West Africa and the Mediterranean upwards to levels that, in some cases, have never been seen before.

In this episode, Associate Director Emma Kettley is joined by frontline reporters Ernest Puey and George Delaney to explore the impact the war in the Middle East is having on physical crude oil markets in Europe and Africa.

Related links:

WAF crude differentials hold near records as Hormuz fears curb trade (Subscriber content)

Dated Brent - PCAAS00

Forties FOB North Sea vs North Sea Dtd Strip - AAGWZ00

Dalia FOB Angola vs 30-60 Day Dated Strip - AAQYY00

CPC Blend CIF vs CPC Dated Brent Strip - AAHPL00

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