Site Icon My Commodity News

Brent Crude Breaks Seventy Dollars on Heightened Persian Gulf Tensions

image-alt-text
Published: February 13, 2026

Logistical Friction

Increased insurance rates for tankers in the Gulf of Oman are being passed through to the spot price. Any physical disruption to exports would flip the projected 2026 surplus into an immediate deficit.

OPEC Resistance

Market talk suggests OPEC+ members are unwilling to allow Brent to fall below $65. Speculation about potential production cut extensions is providing support during the current period of instability.