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Brent Crude Hits Fresh Highs as Shipping Concerns Escalate in the Gulf

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Published: February 21, 2026

Insurance and Logistics Friction

Insurance premiums for tankers in the Gulf of Oman have spiked. This logistical strain is preventing Brent from falling despite bearish 2026 supply data projected by the IEA.

OPEC Discipline

OPEC+ members have signaled they are comfortable with prices in the $70 range and are unlikely to increase production, prioritizing price stability over market share.