The Brent/WTI spread has historically ranged between $4/bbl and $8/bbl, but it can expand or contract based on factors related to U.S. and international supply and demand conditions. For example, the Brent/WTI spread hit nearly $14/bbl in April 2011 when protests sparked market fears of significant oil supply disruptions in the Middle East.

The threat of a wider Israel-Iran war has yet to disrupt the physical flow of oil from Iran or other Gulf states in any major way. Crude prices haven't seemed to notice. Benchmark U.S. futures continued their steep climb Monday,

Crude oil prices have rallied further to one-month highs amid heightened fears over the escalation of conflicts in the Middle East. On Friday, Brent, the benchmark for global oil, recorded gains for the sixth consecutive session;

Oil markets are on edge this week as traders try to anticipate impacts on oil supplies from a potential major retaliation on Iran by Israel.

Oil prices pared gains in early trade on Monday after charting their biggest weekly rise in over a year on Friday amid mounting threats of a region-wide war in the Middle East.

Crude oil futures decline after weekly gains, market eases over West Asia tensions, supply concerns alleviated, prices drop.

Saudi Arabia raised its main oil prices for buyers in Asia amid heightened volatility in the crude market as traders watch developments in the Middle East conflict.

Saudi Arabia has raised its official selling price for Arab Light crude to Asia by 90 cents per barrel amid rising market volatility and geopolitical tensions in the Middle East. This move, surpassing market expectations,