Geopolitical risk premium hits $4.1/bbl; Brent-WTI spread widens to $13.69
Brent up 1.15% at $114.47/bbl, WTI up 1.32% at $100.78/bbl: $13.69 spread — widest since Aug 2025. Fuel oil +6.80%, signaling extended Middle East–Red Sea voyage legs and re-priced war risk insurance. USD/CNY down 0.04%, but EUR/CNY down 0.34%, transmitting hedging pressure to European importers.