Oil Prices up 12.5% from Previous Day on Iran Conflict

Brent crude is currently trading at $104.47 a barrel and WTI at $99.6 putting the Brent-TI spread almost $5 premium Brent over WTI in face of the Iran conflict.

Murban crude (trading on ICE Futures Abu Dhabi , or IFAD) is even higher at $113 a barrel. 

ICE's plans to launch IFAD were disclosed in November 2019 with ICE partnering with ADNOC (Abu Dhabi National Oil Company) and nine large energy traders, including BP, Shell, PetroChina and GS Caltex.