Front month oil futures rocketed higher today with US oil higher than Brent. 
But What’s on Trump’s Mind?
- Davey Crockett?
- Bruce Springsteen?
- Victor Davis Hanson?
- Clips of himself every year from 1980-2024?
- Kangaroo Court?
- Tucker Carlson?
- All of the Above?
Davey Crocket
Truth Social: Davy Crockett, obviously a distant relative of Jasmine Crockett, and a very High IQ Frontiersman, would be proud of the legacy that he began long ago, and especially Jasmine’s Great Success as a Politician from the Great State of Texas! President DONALD J. TRUMP
Bruce Springsteen
Truth Social: Bad, and very boring singer, Bruce Springsteen, who looks like a dried up prune who has suffered greatly from the work of a really bad plastic surgeon, has long had a horrible and incurable case of Trump Derangement Syndrome, sometimes referred to as TDS. The guy is a total loser who spews hate against a President who won a Landslide Election, including the popular vote, all Seven Swing States, and 86% of the Counties across America. Under Sleepy Joe and the Dems, our Country was DEAD, and now we have the “hottest” Country, by far, anywhere in the World. MAGA SHOULD BOYCOTT HIS OVERPRICED CONCERTS, WHICH SUCK. SAVE YOUR HARD EARNED MONEY. AMERICA IS BACK!!! President DJT
Victor Davis Hanson
Truth Social: Victor Davis Hanson Reveals He Was Approached by Chinese Operative Fang Fang But Didn’t Fall for it Like ‘Idiot’ Eric Swalwell.
Kangaroo Court
Truth Social: Kangaroo Court!!!
Tucker Carlson
Truth Social: Douglas Murray: Deranged Tucker Carlson backstabs Trump.
Clips of Himself
Truth Social: Donald Trump – Clip from every year from 1980 to 2024.
If you guessed all of the above, you guessed correctly.
Wild Crude Trading
Front Month Contracts
- West Texas Intermediate Crude (WTIC): Jumped about $12 dollars to $112 (as I type) leaping over Brent
- Brent rose to $108.69
But Brent just rolled over. Its front month is June. The front month for WTIC is May. Continuous contracts show the inversion as well.
Why This Is Happening
The market is in extreme backwardation (near-term prices much higher than later months) due to intense geopolitical volatility from the ongoing Middle East conflict (US-Iran/Israel tensions and the Strait of Hormuz disruption).
- WTI’s May contract is the very prompt month with the highest liquidity and is reacting most violently to near-term U.S. news flows, short-covering, and expiration dynamics.
- Brent has already rolled its front month to June, so its prompt price reflects a slightly later period.
- The result: WTI’s May is spiking harder than Brent’s June, temporarily inverting the usual relationship on “front-month” headlines or mismatched charts. This is real market action — not an error — but it’s amplified by the different roll schedules and the extreme curve shape.
Historically, Brent trades at a premium to WTI (often $2–$10+, sometimes wider during global disruptions) because Brent is seaborne/international while WTI is more U.S.-centric.Today’s inversion on mismatched months is a short-term artifact of the chaos; the June-vs-June (or July-vs-July) view still shows the normal Brent premium.
This is one of the more notable backwardation episodes in recent years, comparable to major disruption periods like 2022, but amplified today by the speed and scale of the price spike.
Curves like this can flatten quickly if tensions ease or inventories build. They can also steepen much further if the strait remains closed.
October Crude
- Brent: 82.13
- WTIC: 74.65
Higher or lower?
The Obvious Truth
Coulter Asks
More Reflections on Lindsey Graham
Nothing Left to Target
War Crimes
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Forget economics. I don’t think he knows how adults work.
The stupidity demonstrated by this administration is beyond fertile imagination. Who could have predicted Trump would insist on more oil from Canada via expediting the Keystone Pipeline permits in his first term only to reject Canadian oil imports via tariffs and abhorrent diplomacy in his second? It is totally dumb to think it would be less expensive, safer, and more environmentally sound to confiscate oil from Venezuela than source it from neighboring Canada. Who would have predicted the US would send the middle east into turmoil disrupting a large percentage of the world’s oil, gas and fertilizer supply and therefore the world economy? Since oil is for the most part fungible, how dumb is it to think there would be serious price discrepancy favoring the US? The mantra about drill baby drill is one big crock of bs, have a look at the linked rig chart:
https://ycharts.com/indicators/us_rotary_rigs
The rig count is approaching 10% of the oil embargo peak.
Trump has been a complete fool with respect to his petroleum policy. Now, I see on a news cast where POTUS chief of staff is concerned that Trump is only hearing what he wants to hear from them. Duh, what does she expect when he has purposely filled his bench with brown nosing worshippers? The firing reported in a related post only suggests Trump is only being adamant in his effort for a genuflecting audience than a true advisory team.
This has to be the worst administration in my lifetime and beating out Johnson, Nixon, Carter and Biden takes determined effort.
It has taken the right to see what the left warned about explicitly wrt re-electing Trump. This is one of our nation’s great failures in her history. That’s okay, with luck these poisons will have run their course before our children are dead.
Brent physical $ 140/ bbl.Paper 108.
Trump is cheering on what amounts to a terrorist act. The world has gone mad. I’m stunned this is actually happening for real.
From the Guardian: Donald Trump claimed responsibility for destroying Iran’s largest bridge, a day after he threatened to bomb the country “back to the stone ages” if a deal to end the five-week-long war he started was not reached.
Eight people were killed and 95 wounded, according to Karaj, Iran’s state media. The middle of the bridge was struck twice. Later imagery showed a clear gap at the heart of what had been one of Iran’s premier infrastructure projects.
“The biggest bridge in Iran comes tumbling down, never to be used again,” the US president posted on the Truth Social website, and he warned there would be “much more to follow” if a settlement was not reached.”
Ann Coulter helped create this cult by spreading vitriol for decades.
Fuck her. Fuck her with an anchor.
“I’m rubber and you’re glue. Whatever bounces off of me sticks to you! Nah, nah, nah!” I think maybe he’s now graduated to 4th grade!! Way to go little Donny…
He should invite Jasmine over to the Whitehouse for hamberders and covfefe.
I’m sure she’d have lots to talk about.
Lindsey Graham helped convince Trump to go into War with Iran. Is there any way somone could convince Lindsey Mayhem to be among the first group of US Military that land in Iran? He would be an excellent Decoy.
I think Trump engineered higher oil prices because he wants to slow the global warming.
Here is the link to the cartoon a few posts back.
Thanks Nicole Hodges
https://x.com/nicoleshodges/status/2038964130711847232?s=20
Thanks!
sacrifices must be made….
the “America first” guy first priority is fighting wars
“I said to [Office of Management and Budget Director Russell Vought], ‘Don’t send any money for daycare because the United States can’t take care of daycare.’ That has to be up to a state. We can’t take care of daycare. We’re a big country. We have 50 states. We have all these other people,” Trump said. “We’re fighting wars. We can’t take care of daycare. You got to let a state take care of daycare, and they should pay for it too. They should pay. They’ll have to raise their taxes, but they should pay for it. And we could lower our taxes a little bit to them to make up.
“It’s not possible for us to take care of daycare, Medicaid, Medicare, all these individual things. They can do it on a state basis. You can’t do it on a federal. We have to take care of one thing: military protection. We have to guard the country. But all these little things, all these little scams that have taken place … you have to let states take care of them,”
Truly Mish, is anything on Trumpolini’s mind other than his triumphal arch and presidential library. Note I used no capital letters in reference to his dream monuments. Oh, I forgot the royal ballroom.
Yes, Bruce Springsteen etc.
Yes. Epstein.
Righto!
Don’t forget the pretty young girls, we know Trump will be dreaming of them until the day he dies
and the ballroom
Good post. Of course those are all oil futures prices, used by traders who rarely take delivery. Cash prices in Asia today for physical delivery range from $120-$150.
The disruption of oil production, delivery, and refining in the Persian Gulf will take months (and for gas, years) to recover. I believe there will be an oil shortage for the rest of the year, keeping prices high. Prices for delivery of refined products such as jet fuel are already over $200/barrel.
Yet, there are still some “analysts and experts” out there who expect prices to crash by year end. Mike McGlone says $50 by year end. Doomberg says $30.
I don’t think that prices can possibly go that low unless it is the result of a global depression.
I still think prices will remain well above $70 by year end. If the war continues for another month or more, prices will likely remain over $100 by year end.
I cannot fathom anyone thinking $30. The demand destruction that would take would be mind boggling.
Agree.
I decided to just flat out buy straddles on energy related ETFs for June/July. Summer is peak energy usage and the volatility makes it as easy as shooting fish in a barrel to make money here.
I’m not giving trading advice here but this is the easiest money on the planet, just wait for Trump to announce the war is over and cash in on puts, wait for Iran (or Trump) to bomb something and cash in on the calls. Rinse and repeat.
Between now and end of July we’ll have 119 daily news cycles. That’s a lot of days for Trump to TACO or go LOCO.
Markets can do anything—remember in 2020 oil futures went negative meaning you had to pay the buyers to take the oil contract due to low demand covid related
Yes. Markets can do anything. Oil went negative for two days. And it can go $120+ for a few days as well.
But that is not what those analysts are talking about. They are referring to a price level that oil can settle into for a time period of months or years.
Inflation( via the democrat covid cash dump and fraud) has repriced many things to a higher level
I’m thinking the 12% rise in WTI today is short covering. Probably some big bets that oil would go down after Trump’s speech.
Less than 48hrs. after the war began, WTI spiked to over $120. That huge spike has been memory-holed and the price has been kept well under $100 until today.
I expect continued market manipulation to keep futures below $100 for the foreseeable future just as we’ve seen over the past month.
We’ll be running out of oil soon (literally) but the futures market will still pretend nothing’s wrong.
Oil is out of control and Trump has more bombing planned for Iran. I assume “weaponless” Iran will retaliate and wipe out more oil infrastructure. They have been raining down missiles on Israel, or rather some mysterious country with missiles is launching them at Israel. No one knows who it is because it certainly can’t be Iran.
Do worry, Trump will find a way to make things even worse.™
Missiles hitting Israel?
https://m.youtube.com/watch?v=fgm2vXLMMKc&pp=ygUXc2VpbmZlbGQgdGhhdCdzIGEgc2hhbWXSBwkJ2QoBhyohjO8%3D
Iran has a heavily armed frog in its pocket.
and now this: Amazon to add 3.5% fuel and logistics surcharge for sellers as Iran war drives up energy prices
https://www.cnbc.com/2026/04/02/amazon-add-3point5percent-fuel-and-logistics-surcharge-for-sellers-amid-iran-war.html
any odds on when Hegseth will be “shown the door”?
Hegseth just fired the army chief of staff, hours ago.
No doubt the chief of staff was against something
The Kid Rock Blackhawk flyby comes to mind.
Awe why do you wanna go and spoil the Major’s fun firing all those know-it-all generals? It’s the ultimate revenge! Military Law? That’s for suckers. I just noticed the next election features 13 D seats and 20 R seats! Me think the dems stand a really good chance of taking the senate as of now. Linsdey Graham is in there. Of course they’ll vote for any R idiot in SC. But Mitch’s seat is up in a state with a dem governor! Gonna be interesting!
The rest of the world can’t “open” Hormuz with either the US and Israel pummeling Iran
Trump is effectively at war with much of the world
And pumping up Russia, coincidently