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Posted April 7, 2026Crude oil and petroleum product prices increased sharply in the first quarter of 2026 ›
Note: The Brent front month futures price typically aligns with the WTI second month price; 1Q26=first quarter of 2026; WTI=West Texas Intermediate
Crude oil and petroleum product prices increased significantly in the first quarter of 2026 (1Q26), particularly following military action in the Middle East on February 28 and the subsequent de facto closure of the Strait of Hormuz. In this quarterly update, we review petroleum markets price developments in 1Q26, covering crude oil prices, petroleum product prices, and refinery inputs.
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