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WTI Crude Oil Prompt Spread Surges to $5.18, Highest Since May 1 Amid Red Sea Tensions

2026-07-24 03:44:38

CL4.10%

According to Yonhap Infomax, WTI crude oil futures prompt spread rose to $5.18 on July 23, marking its highest level since May 1 after climbing approximately $4.5 this week. The prompt spread measures the price difference between nearest-month and next-month crude oil futures contracts; a higher positive spread signals tightening near-term supply. The rally accelerated this week after Yemen-based Houthi forces declared a blockade of the Red Sea and began attacking Saudi Arabian tankers, reviving supply concerns amid U.S.-Iran tensions.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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