Physical oil prices hit record highs near $150 a barrel as Hormuz crisis worsens

April 7, 2026

European and Asian refiners are paying record high prices of near $150 a barrel for some crude oil grades, far exceeding prices for paper futures, highlighting the worsening supply crisis from the U.S.-Israel ‌war with Iran.

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RIL, HPCL and other downstream stocks soar up to 9% as crude crashes 15% after the US-Iran ceasefire. What’s next for investors?

Indian oil, Reliance, Hindustan Petroleum, Bharat Petroleum shares rallied up to 9% as crude prices plunged nearly 15% following a US-Iran ceasefire announcement, easing fears

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