Alaska North Slope crude reaches record premium over Brent
Updated
Updated · Alaska Public Media News · May 8
Alaska North Slope crude reaches record premium over Brent
9 articles · Updated · Alaska Public Media News · May 8
In April, ANS averaged $111.17 a barrel, $8.70 above Brent and $13.11 above West Texas Intermediate, Alaska revenue figures showed.
Officials said war-related Middle East supply constraints and shipping risks pushed Asian refiners to pay more for Pacific crude seen as safer than cargoes crossing insecure routes.
Each $1 rise in ANS can add about $30m to Alaska, helping fund dividends, schools and reserves, though lawmakers are budgeting for lower prices from July.
Will the oil price surge from the Iran war provide long-term stability for Alaska, or is a fiscal cliff inevitable?
Amid a state revenue boom and soaring gas prices, will Alaskans see a record dividend or a higher cost of living?
Will the Hormuz crisis permanently shift Asia's energy dependence from the Middle East to the Americas?
Alaska North Slope Crude Hits Record $8.70 Premium Over Brent Amid 2026 Geopolitical Crisis
Overview
In April 2026, Alaska North Slope (ANS) crude oil prices surged to a record $111.17 per barrel, driven by a historic premium over global benchmarks. This spike was mainly caused by the closure of the Strait of Hormuz due to escalating US-Iran conflict, which disrupted 20% of global oil flows and triggered a supply shock. Asian refiners, seeking secure alternatives compatible with their refineries, pivoted to ANS crude, intensifying competition, especially on the U.S. West Coast. The unexpected exit of the UAE from OPEC+ further increased market uncertainty and price volatility. This premium generated a significant fiscal windfall for Alaska, though lawmakers remain cautious, anticipating a price correction as geopolitical tensions ease.