World Oil Price Chart Today, Tuesday April 7, 2026
Jakarta, Pintu News – Benjamin Picton, Senior Market Strategist at Rabobank, highlights the rising geopolitical risks relating to Iran, the Strait of Hormuz, and potential divisions within NATO, which directly affect the oil market.
He explained that infrastructure damage to petrochemical assets has occurred, while WTI and Brent prices have risen sharply. Picton also warned that if the closure of the Strait of Hormuz lasts longer and the US launches another attack on Iran’s infrastructure, then the recovery of global oil supply and demand will not happen quickly.
Then, how will the world oil price chart move today?
World Oil Price Today
World crude oil prices showed a solid gain. Crude Oil was recorded at 113,969 USD per barrel, up 1,559 points or around 1.39% on a daily basis. In the past week, the increase reached 12.46%, which indicates that the strengthening trend is still quite strong in the short term.
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Meanwhile, Brent also moved up to 110.880 USD per barrel. On a daily basis, Brent increased by 1.11 points or about 1.01%, with a weekly increase of 6.74%. Although both strengthened, the rate of increase in Crude Oil looks higher than Brent, both in terms of daily and weekly.
War escalation keeps crude oil market tense
The damage to infrastructure continues to grow. Israel recently attacked Iran’s petrochemical infrastructure in the South Pars gas field. In retaliation, Iran launched a ballistic missile attack on Saudi Arabia’s Al-Jubail industrial park, which is the world’s largest petrochemical production cluster.
Nearby WTI futures are up 0.7% this morning to $113.15 per barrel, while dated Brent closed at $141.26 per barrel on Thursday. This represents a widening of the gap between physical oil prices and the leading futures contract, which is now the June contract, at $109.88 per barrel.
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This situation brings the market back to the “escalation to de-escalation” phase, while pushing the conflict to a more serious level, as the Strait of Hormuz remains closed for longer and the damage to economic infrastructure makes the reopening of the passage not necessarily trigger a quick recovery for the global economy.
In recent weeks, Ukraine has also managed to inflict major damage on Russia’s economic infrastructure, particularly the oil sector, amid the world’s desperate need for additional oil supplies to the market.
As the deadline for escalation approaches, one big question looms: if the lines between these two conflicts blur further and eventually merge into one larger war, who will then be able to say, “it’s not our war”?
CVXON: Tokenization of Oil Company Shares
As blockchain technology develops, assets that were previously associated with traditional commodity markets are now starting to appear in digital format, including assets related to the energy sector and oil prices.
One relevant example in this context is Chevron (CVXON). As a global energy company, Chevron’s business activities span the entire value chain of the oil and gas industry, from upstream exploration and production to refining, distribution, marketing, transportation, petrochemicals and power development.
In the blockchain ecosystem, exposure to Chevron is now also available through CVXON (Chevron Tokenized Stock), a tokenized digital representation of Chevron Corporation shares issued by Ondo Finance. Through this asset, investors, especially outside the United States, can gain access to Chevron’s stock price movements.
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Reference:
- FX Street. Oil: War-driven supply risks and security fractures – Rabobank. Accessed on April 7, 2026