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US oil prices settled above Brent for the first time in nearly four years after Trump's address failed to say when the Iran war would end or when the Strait of Hormuz might reopen. The move reflected traders positioning for a longer US involvement in the conflict.
The inversion of the usual WTI-Brent relationship shows the market is pricing a prolonged US-linked supply risk, which keeps US energy costs elevated and affects import and export economics.
barrons.comGeorge Glover, Callum Keown, Anita HamiltonMay 1, 2026Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
