US Oil Prices Overtake Brent in Rare Market Reversal Amid War Escalation

West Texas Intermediate (WTI) crude futures skyrocketed on Monday, trading at a rare premium to the global benchmark Brent—a phenomenon reflecting an extreme scramble for immediate physical oil supply in the Americas. The price surge is directly tied to the escalating conflict in the Persian Gulf, where a fifth of the world’s oil supply remains choked by Iranian forces, and the looming U.S. military deadline against Tehran’s infrastructure.