
U.S. Crude Oil Hits Record Monthly Spread Over Iran War
On Thursday, U.S. crude oil futures set a record spread between May and June contracts, with May jumping 11% to $111.54 per barrel. This followed President Trump's speech suggesting a prolonged Iran war, altering market hopes for a swift resolution. Brent crude spot prices hit $141.36, a multi-year high, driven by supply fears after Iran closed the Strait of Hormuz. Analysts cited significant short covering by traders who anticipated a ceasefire. The events highlight acute physical supply tightness in global oil markets. Price volatility underscores sensitivity to Iran war developments and supply risks.






















