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Oil prices hold elevated levels amid Middle East tensions and geopolitical uncertainty
Kpler puts Brent at $108.50 a barrel and says freight and insurance costs pressure fuel supplies despite recovering flows.
TLDR
Strait of Hormuz crude flows averaged 10.1 million barrels a day over seven days, Kpler says, but freight rates, insurance costs and geopolitical tensions continued to pressure fuel supplies. GasBuddy reports WTI at $100.61 in early Monday trading after a pullback. Its figures put U.S. gasoline at $4.24 a gallon, down 5.5 cents over the week, and diesel at $6.30, up 5.2 cents.
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