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Oil extends rally as Hormuz flows improve since early September

Brent was around $107.4 per barrel and WTI about $94.3, with the spread widening on reports of a possible U.S. diesel ban.

Reported · Written up by our desk · Energy

Crude oil prices extended a climb that began Monday, even as reports said oil flows through the Strait of Hormuz have improved significantly since the start of September, according to OilPrice.

At the time of writing, Brent crude traded around $107.37 per barrel and West Texas Intermediate traded around $94.31 per barrel, reflecting a widening Brent-WTI gap tied to the reports.

OilPrice also noted the widening spread was driven by reports about a possible U.S. ban on diesel fuel, helping explain why Brent and WTI moved differently during the rally.

Latest closeWTI crude $93.42 ▲1.1%|Brent $98.85 ▼5.2%

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