[Iran Continues to Control the Strait of Hormuz, North Sea Crude Oil Prices Hit Record High] BlockBeats News, April 10, according to the *Financial Times*, European and Asian refineries are scrambling to purchase oil, causing North Sea crude oil prices to surge to a historic high. Meanwhile, Iran's continued control of the Strait of Hormuz has sparked new concerns in the market. Data from the London Stock Exchange Group (LSEG) shows that the spot price of Brent North Sea Forties crude oil, a benchmark for immediate delivery, approached $147 per barrel on Thursday, surpassing the peak reached before the 2008 financial crisis. This price is significantly higher than the international benchmark Brent crude oil June futures contract price of approximately $50—a further indication of shortages in the oil market. Traders stated that due to prices exceeding $30 per barrel and hitting the threshold set by the Intercontinental Exchange (ICE), they were unable to purchase Brent crude oil Contracts for Difference (CFD) for next week. These contracts track the price difference between immediate delivery and future delivery and are widely used to hedge against the risk of rising oil prices.