Skip to content
Graphics
The Studio · PlateGraphics Desk
Macro

Plate ·

Brent Front-End Re-Steepened by Apr. 10

By Macro · Graphics Desk1 min read
Snapshot card showing that Brent's BOM–M12 spread widened from about $10 to about $35 in the four weeks after the Strait of Hormuz closure, a faster re-backwardation than during the 2022 geopolitical shock.

Source: Parameta Solutions/TP ICAP. March–April 2026.

Parameta's public April 10 note shows Brent's BOM-M12 spread moving from about $10 in early March to about $35 by April 10. The chart isolates how quickly the front end re-steepened.

Snapshot card showing that Brent's BOM–M12 spread widened from about $10 to about $35 in the four weeks after the Strait of Hormuz closure, a faster re-backwardation than during the 2022 geopolitical shock.
Source: Parameta Solutions/TP ICAP. March–April 2026.

By April 10, Parameta's published note showed Brent's BOM-M12 spread at about $35, up from roughly $10 in early March. That is the chart's claim: the front end of the curve re-steepened fast.

For readers, the implication is simple. Prompt Brent got materially more expensive than deferred supply over a short stretch, reopening backwardation at the front of the curve. The chart is not making a grand historical ranking. It is showing the speed of the reset between early March and April 10.