Brent Jumps 7% to $114 as Spread With WTI Widens to 11-Year High

The Brent-WTI spread widened sharply in early trading Thursday, pushing toward an 11-year high as Middle East supply disruptions drove a deepening split between global and U.S. crude markets. Brent crude surged nearly 7% to above $114 per barrel while U.S. West Texas Intermediate edged up just 0.2% to around $96. The divergence has pushed the spread to roughly $18 per barrel, a level not seen since the mid-2010s oil market dislocations. Seaborne crude markets are experiencing intensifying stress amid escalating attacks on Gulf energy infrastructure…