President Trump Vows Continued Attacks on Iran, Impacting U.S. Crude Oil Trade
U.S. crude oil futures are experiencing unprecedented premiums as traders rush to secure barrels following President Trump's commitment to continue military actions against Iran. This situation has led to a widening backwardation, indicating a perceived short-term supply shortage. The ongoing U.S.-Israeli conflict with Iran has significantly reduced global oil supply, driving prices to multi-year highs and causing shortages in countries dependent on oil from the Strait of Hormuz. President Trump has promised further aggressive actions against Iran but has not provided a strategy to reopen the Strait of Hormuz, a critical chokepoint for global oil flow. 
