My understanding is that delivered Crude prices are in the $140 range. Apparently there is basis,just like in Ag Commodities. Spot prices have overpriced futures by a significant margin. It's called Dated Brent Crude. And it's oil actually slated for delivery.

 https://www.moomoo.com/news/post/67864894/spot-shortage-brent-crude-oil-prices-surged-past-140-with?level=1&data_ticket=1775405300786603