North Sea Forties crude oil reaches a record high of USD 148.87/bbl, according to LSEG data; supply concerns will be boosted by US plans to block the Strait

The record high in North Sea Forties crude oil indicates significant upward pressure on supply due to geopolitical tensions, particularly the US plans to block the Strait. This spike could lead to increased volatility in energy markets and impact inflation expectations, particularly for energy-dependent economies. Traders should closely monitor this situation as it may have broader implications for oil prices and related commodities across different asset classes.