• The spot price reflects the demand for Brent oil that will be delivered in the next 10 to 30 days.

  • The high price for more immediate oil deliveries points to the tightness of physical supply right now due to the huge disruption trigged by the U.S. war against Iran.

https://www.cnbc.com/2026/04/02/dated-brent-oil-price-actual-cargo-highest-level-2008.html