Value of North Dakota oil rises as Iran war upends markets

By: Jacob Orledge

Outlets: North Dakota Monitor

Published: April 21, 2026

Words: 613

Last Updated: 2 months, 2 weeks ago

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North Dakota oil shipped on the Dakota Access Pipeline is fetching nearly $7 more per barrel than a U.S. benchmark price amid volatility caused by the Iran war.

State regulators aren’t sure why prices for North Dakota oil at its destination in Illinois are higher than traditional benchmark prices. One possibility is the light, sweet crude can be more easily refined into products like jet fuel and diesel that are experiencing demand surges in Europe …

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