Post Content
April 14, 2026 3:29pm ET
A sharp selloff Tuesday dragged oil futures to their lowest prices in weeks, even as refiners continued scrambling for real-world cargoes of crude.
Benchmark U.S. crude futures slid 7.9%, to $91.28 a barrel, alongside renewed hopes for U.S.-Iran peace talks. It was the lowest settlement value since March 25. Brent futures fell 4.6% to $94.79 a barrel.
A spot-pricing benchmark for the Brent market also fell Tuesday, according to Argus Media, but those supplies still traded at nearly $125 a barrel. Near-term U.S. oil shipments to Europe tracked by Argus ran more than $20 higher.
The divergence between physical and financial prices has scrambled the outlook for the Iran war’s impact and pressured fuelmakers trying to shield themselves from big market swings.