# Near-term oil prices hit record premium over later deliveries after Trump vows more attacks on Iran | Reuters

> Near-term oil prices reached a record premium over later-dated deliveries after Trump vowed more attacks on Iran. The Israeli-led war has removed millions of barrels per day from global supply, driving energy prices to multi-year highs and causing fuel shortages in oil-reliant countries.

- Date: 2026-04-02 · published 2026-04-02T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/12725-near-term-oil-prices-hit-record-premium-over-later-deliveries-after-trump-vows
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A record backwardation signals acute physical tightness, which pushes up near-term fuel and energy costs and makes forward feed-cost hedging more expensive.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-02 | [US crude jumps more than 11%, Brent nearly 8% after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12724-us-crude-jumps-more-than-11-brent-nearly-8-after-trump-vows-more-attacks-on.md) | -2.2% | +6.1% |
| WTI | 2022-03-07 | [Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay \| Reuters](https://feedsoft.ai/events/42431-oil-prices-hit-14-year-highs-on-russia-oil-ban-talks-iran-deal-delay-reuters.md) | -5.5% | -14.2% |
| WTI | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.2% | +6.1% |
| WTI | 2026-04-02 | [Oil Jumps After Trump Vows to Hit Iran ‘Extremely Hard’ - WSJ](https://feedsoft.ai/events/12727-oil-jumps-after-trump-vows-to-hit-iran-extremely-hard-wsj.md) | -2.2% | +6.1% |
| WTI | 2024-03-18 | [Oil prices inch higher amid attacks on Russian energy facilities \| Reuters](https://feedsoft.ai/events/31372-oil-prices-inch-higher-amid-attacks-on-russian-energy-facilities-reuters.md) | -0.9% | +5.3% |
| BRENT | 2026-04-02 | [US crude jumps more than 11%, Brent nearly 8% after Trump vows more attacks on Iran \| Reuters](https://feedsoft.ai/events/12724-us-crude-jumps-more-than-11-brent-nearly-8-after-trump-vows-more-attacks-on.md) | -2.8% | +8.2% |
| BRENT | 2022-03-07 | [Oil prices hit 14-year highs on Russia oil ban talks, Iran deal delay \| Reuters](https://feedsoft.ai/events/42431-oil-prices-hit-14-year-highs-on-russia-oil-ban-talks-iran-deal-delay-reuters.md) | -4.6% | -13.0% |
| BRENT | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.8% | +8.2% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/prompt-oil-prices-hit-record-premium-next-month-delivery-after-trump-vows-keep-2026-04-02/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.