The Iran war has triggered a global scramble for supply, making North American oil highly sought after.
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According to pricing data from Modern Commodities, Bakken crude oil traded at the Clearbrook hub in Minnesota on Monday was priced at an $18 premium over the monthly average price of West Texas Intermediate (WTI) crude. In comparison, on February 28, the day before the Iran war broke out, Bakken crude was still at a $1.20 discount.
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