https://www.instagram.com/vanessaclarkipaiThis is your Crude Oil podcast.Hey everyone, welcome back to Daily Crude Oil Price Tracker with Vanessa Clark. I'm your host Vanessa, and today we're diving into the wild ride of crude oil prices amid escalating global tensions.As of this morning, Brent crude – that's the global benchmark often used for international pricing – is sitting at $93.76 per barrel. That's according to Fortune's latest update from April 8th at 8:40 a.m. Eastern Time. It's a sharp drop of $19.64 from yesterday's $113.40 per barrel, but still way up from a month ago at $107.48. Over on the U.S. side, West Texas Intermediate or WTI closed at $114.01 on April 6th, per Federal Reserve Economic Data, with recent days hovering around $113 to $114 before this dip.What's driving this volatility? The big story is the ongoing US-Israel war with Iran, which started back in late February. The Strait of Hormuz – that vital chokepoint for 20% of the world's oil – has been effectively shut down by Iran. US Energy Information Administration reports from April 7th say oil production shut-ins in places like Iraq, Saudi Arabia, Kuwait, UAE, Qatar, and Bahrain hit 7.5 million barrels per day in March, and they're expected to climb to 9.1 million in April before easing to 6.7 million in May as traffic resumes. Just nine vessels passed through on April 6th, and zero crude tankers – a huge drop.President Trump issued an ultimatum to Iran yesterday: reopen the strait by 8 p.m. ET or face more strikes. EIA forecasts Brent could peak at $115 per barrel this quarter, with their full-year 2026 average now at $96 – up from $79 last month. Gasoline might hit $4.30 a gallon and diesel $5.80 this month, so keep an eye on your pump prices.The takeaway? This conflict is squeezing supply, but potential resolutions could bring relief later this year, with prices forecasted to dip below $90 by Q4. Stay diversified if you're trading, and watch those headlines closely.Thanks for tuning in, friends – hit subscribe, share with a buddy, and catch you next time on Daily Crude Oil Price Tracker!For more http://www.quietplease.aiCheck out Vanessa on Instagram https://www.instagram.com/vanessaclarkipaiFor some deals, check out https://amzn.to/4hSgB4rThis content was created in partnership and with the help of Artificial Intelligence AI

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