Monthly Americas Chart Pack
April 2026
Take a step back with our monthly chart pack, where analysts highlight the most important trends and visuals shaping the oil market in the Americas for the month of February.
Oil Narratives
Crude
Light Ends
Middle Distillates
Fuel Oil
Freight
Americas Chart Pack: February
Introduction
The April 2026 Americas Chart Pack shows Hormuz closure repositioning the Americas as the world's primary supply hub. WTI is the cheapest light-sweet barrel globally with DFL at +$9.90/bbl, USGC medium sours are re-emerging as the leading benchmark, and US exports are set for record levels. But demand destruction is building as Asian and European runs rationalize, and TC14 freight tightness is constraining how fast USGC barrels can clear.
The Strait of Hormuz closure is redrawing global trade flows. WTI has become the barrel of last resort, USGC medium sours are re-emerging as the world's leading benchmark, and the key question now is whether product demand can hold as runs rationalize across Asia and Europe.
Nikolas PlonskiOil Market Analyst - Americas
Hormuz fallout and the race to replace lost barrels
Export margins widen as demand cracks appear
Venezuelan flows keep USGC resid balanced
WTI steps up as the barrel of last resort
RVP waivers reshape blending, naphtha stays bid
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TC14 tightness constrains how fast USGC barrels can clear
