{"id":10641,"date":"2026-04-11T07:05:00","date_gmt":"2026-04-11T03:05:00","guid":{"rendered":"https:\/\/omanet.om\/en\/news\/economy\/oil-shock-worse-than-thought\/"},"modified":"2026-04-11T13:34:38","modified_gmt":"2026-04-11T09:34:38","slug":"oil-shock-worse-than-thought","status":"publish","type":"post","link":"https:\/\/omanet.om\/en\/news\/economy\/oil-shock-worse-than-thought\/","title":{"rendered":"Oil Shock Deepens: What Investors and Businesses in Oman Need to Know Now"},"content":{"rendered":"<style>\r\n@keyframes hitv3sog-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitv3sog-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitv3sog-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitv3sog-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes hitv3sog-badge{from{opacity:0;transform:scale(0.8)}to{opacity:1;transform:scale(1)}}\r\n<\/style><style>\r\n.hitv3sogw{container-type:inline-size;width:100%;max-width:970px;margin:0 auto;box-sizing:border-box}\r\n.hitv3soga{display:flex;flex-direction:row;align-items:center;justify-content:space-between;width:100%;box-sizing:border-box;text-decoration:none;color:#fff;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,system-ui,sans-serif;position:relative;overflow:hidden;cursor:pointer;background:linear-gradient(135deg,#111118 0%,#080808 100%);border:1.5px solid rgba(255,255,255,0.08);border-radius:14px;gap:20px;padding:20px 40px;transition:border-color .2s}\r\n.hitv3soga:hover{border-color:#dc262688}\r\n.hitv3sogg1{position:absolute;inset:0;background:radial-gradient(ellipse at 50% 0%,rgba(220,38,38,0.35),transparent 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.15s}\r\n.hitv3sogbtn:hover{filter:brightness(1.15);transform:scale(1.04)}\r\n.hitv3sogbr{font-size:9px;color:rgba(255,255,255,.18);text-align:center;margin-top:5px;letter-spacing:.1em;text-transform:uppercase}\r\n\/* \u2500\u2500 Compact horizontal: 380\u2013599px (like 320\u00d7100) \u2500\u2500 *\/\r\n@container (min-width:380px) and (max-width:599px){\r\n  .hitv3soga{padding:12px 22px;gap:12px;min-height:100px}\r\n  .hitv3sogh{font-size:16px}\r\n  .hitv3sogs{display:none}\r\n  .hitv3sogbtn{padding:7px 16px;font-size:11px}\r\n}\r\n\/* \u2500\u2500 Mobile\/card: < 380px (like 300\u00d7250) \u2500\u2500 *\/\r\n@container (max-width:379px){\r\n  .hitv3soga{flex-direction:column;align-items:center;justify-content:space-between;min-height:260px;padding:22px 22px;gap:10px}\r\n  .hitv3sogc{align-items:center;text-align:center}\r\n  .hitv3sogh{font-size:22px;white-space:normal}\r\n  .hitv3sogs{font-size:11px;white-space:normal}\r\n  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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitv3sog-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OMAN OFFER<\/span><\/div>\r\n    <div class=\"hitv3sogh\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.15s;\">Websites For <span style=\"color:#dc2626;\">Omani Businesses.<\/span><\/div>\r\n    <div class=\"hitv3sogs\" style=\"animation:hitv3sog-slideup 0.7s ease both;animation-delay:0.3s;\">Empower your brand with custom digital solutions designed for high conversion and market dominance.<\/div>\r\n    <div class=\"hitv3sogbl\"><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Responsive designs built for growth<\/span><\/div><div class=\"hitv3sogbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Fast loading with smart automation<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitv3sogct\">\r\n    <button class=\"hitv3sogbtn\" style=\"animation:hitv3sog-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Build Your Free Website <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitv3sogbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div>\n<p>When searching for the price of oil, two commonly cited figures often appear: one for the United States and another for Europe. These prices fluctuate continuously on electronic markets, reflecting the current state of the global energy landscape. While the ongoing conflict involving Iran has driven energy costs higher, the situation is not as severe as it was four years ago, following Russia&#8217;s invasion of Ukraine.<\/p>\n<p>However, procuring an actual tanker full of oil on short notice has become extraordinarily expensive.<\/p>\n<p>On Tuesday, just before President Donald Trump announced a ceasefire agreement between the United States and Iran, the widely referenced price of Brent crude oil \u2014 the European benchmark \u2014 stood at approximately $109 per barrel. This figure, though high, remains below the peak prices seen in 2022 when Brent briefly surpassed $130 per barrel (unadjusted for inflation).<\/p>\n<p>In contrast, the spot market price for physical oil \u2014 reflecting the cost of liquid crude oil available for immediate shipment \u2014 soared to nearly $145 per barrel. This was a record high and more than double the price before the U.S. and Israel launched attacks on Iran on February 28, according to Argus Media, a commodity price tracking firm.<\/p>\n<p>The disparity between these two prices arises from their nature: the commonly cited Brent price is a futures price, a financial instrument representing traders\u2019 expectations of oil\u2019s value in one to two months, akin to a stock price. The second, the spot price, is tied to the delivery of actual crude oil shipments that refineries convert into gasoline, diesel, and jet fuel.<\/p>\n<p>While futures and spot prices typically differ, the current gap has widened unusually in recent weeks. Industry experts say this discrepancy means futures prices no longer fully capture the severe supply disruptions currently affecting global oil markets.<\/p>\n<p>\u201cThe futures market is not representing the on-the-ground and on-the-water reality of oil at all,\u201d remarked Vikas Dwivedi, global energy strategist at Macquarie Group. \u201cIt\u2019s quite broken.\u201d<\/p>\n<p>Chevron CEO Mike Wirth echoed these concerns during the recent CERAWeek energy conference in Houston. \u201cPhysical prices and physical supplies would reflect a tighter market than I think the forward curve reflects,\u201d he stated, referring to futures pricing.<\/p>\n<p>Historically, futures and spot prices tend to diverge during major market disruptions such as the COVID-19 pandemic and Russia\u2019s invasion of Ukraine, when geopolitical events amplify the contrast between current and future oil values. However, the current price gap is unparalleled in the past two decades, with analysts struggling to explain its full extent.<\/p>\n<p>\u201cIt is a mystery,\u201d said Dwivedi.<\/p>\n<p>The war involving Iran has profoundly disrupted oil markets. Estimates suggest that over 10% of global oil supply has been shut off due to shipping risks through the Strait of Hormuz, a critical but narrow shipping passage between Iran and the Arabian Peninsula.<\/p>\n<p>This has caused worldwide price surges and fuel shortages in some Asian countries heavily reliant on Persian Gulf supplies. Gas stations in Vietnam and Thailand have turned customers away due to lack of fuel; Sri Lanka has declared every Wednesday a public holiday; and remote work mandates or encouragement have been implemented elsewhere to reduce fuel demand.<\/p>\n<p>Although the recent two-week ceasefire announced by President Trump temporarily pushed oil prices down, the underlying situation remains precarious. Shipping companies continue to avoid the Strait of Hormuz, leaving a significant portion of the world\u2019s oil trapped in the Persian Gulf.<\/p>\n<p>\u201cThe physical price just tells you how tight everything is right now,\u201d said Jason Gabelman, an energy analyst at TD Cowen.<\/p>\n<p>This report originally appeared in The New York Times.<\/p>\n<p><style>\r\n@keyframes hitl8gak-fadein{from{opacity:0;transform:translateY(14px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-slideup{from{opacity:0;transform:translateY(20px)}to{opacity:1;transform:translateY(0)}}\r\n@keyframes hitl8gak-pulse{0%,100%{box-shadow:0 0 14px #dc262688}50%{box-shadow:0 0 32px #dc2626,0 0 60px #dc262655}}\r\n@keyframes hitl8gak-shimmer{0%,100%{opacity:0.3;transform:scaleX(0.4)}50%{opacity:1;transform:scaleX(1)}}\r\n@keyframes hitl8gak-glow{0%,100%{opacity:0.6}50%{opacity:1}}\r\n@keyframes 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solid rgba(255,255,255,0.18);backdrop-filter:blur(8px);-webkit-backdrop-filter:blur(8px);border-radius:20px;padding:3px 10px 3px 7px;margin-bottom:clamp(5px,0.6vw,9px);animation:hitl8gak-badge 0.5s ease both;\"><span style=\"display:inline-block;width:6px;height:6px;border-radius:50%;background:#dc2626;flex-shrink:0;\"><\/span><span style=\"font-size:clamp(8px,0.9vw,10px);font-weight:700;letter-spacing:0.07em;color:rgba(255,255,255,0.88);text-transform:uppercase;white-space:nowrap;\">EXCLUSIVE OFFER<\/span><\/div>\r\n    <div class=\"hitl8gakh\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.15s;\">Your Website <span style=\"color:#dc2626;\">Should Sell.<\/span><\/div>\r\n    <div class=\"hitl8gaks\" style=\"animation:hitl8gak-slideup 0.7s ease both;animation-delay:0.3s;\">Custom-built websites with smart automation & AI-powered features.<\/div>\r\n    <div class=\"hitl8gakbl\"><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>SEO-optimized & lightning fast<\/span><\/div><div class=\"hitl8gakbi\"><span style=\"display:inline-block;width:5px;height:5px;border-radius:50%;background:#dc2626;flex-shrink:0;margin-right:7px;\"><\/span><span>Smart features built for your business<\/span><\/div><\/div>\r\n  <\/div>\r\n  \r\n  <div class=\"hitl8gakct\">\r\n    <button class=\"hitl8gakbtn\" style=\"animation:hitl8gak-pulse 2.5s ease-in-out infinite;animation-delay:1s;\">Get Free Consultation <span style=\"opacity:.9;\">\u2192<\/span><\/button>\r\n    <div class=\"hitl8gakbr\">hit.land<\/div>\r\n  <\/div>\r\n<\/a>\r\n<\/div><br \/>\n<\/p>\n<p>Special Analysis by Omanet | Navigate Oman&#8217;s Market<\/p>\n<p>The widening gap between spot and futures oil prices amid the Iran conflict signals a <strong>severe supply crunch<\/strong> that is not fully reflected in financial markets, posing <strong>risks of sustained volatility<\/strong> for Oman\u2019s energy-dependent economy. For businesses, this means <strong>heightened uncertainty in fuel costs and supply chain disruptions<\/strong>, while <strong>smart investors should prioritize ventures that enhance supply security and alternative energy solutions<\/strong> to capitalize on the tightening market. Entrepreneurs and policymakers must <strong>proactively adapt to a new reality of constrained physical oil availability despite moderate futures pricing<\/strong>, ensuring resilience in Oman&#8217;s strategic energy sector.<\/p>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices show two key numbers: futures price, often cited, and the spot price for immediate delivery. While Brent futures hovered around $109\/barrel, spot prices hit nearly $145\u2014a record\u2014reflecting tight supply amid Iran conflict and shipping disruptions through the Strait of Hormuz.<\/p>\n","protected":false},"author":10,"featured_media":10642,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[482],"tags":[1817,3624,328],"class_list":["post-10641","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-energy-market","tag-iran-conflict","tag-oil-prices"],"jetpack_featured_media_url":"https:\/\/omanet.om\/wp-content\/uploads\/2026\/04\/3348385.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10641","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/comments?post=10641"}],"version-history":[{"count":1,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10641\/revisions"}],"predecessor-version":[{"id":10643,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/posts\/10641\/revisions\/10643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media\/10642"}],"wp:attachment":[{"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/media?parent=10641"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/categories?post=10641"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omanet.om\/en\/wp-json\/wp\/v2\/tags?post=10641"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}