Front Month Oil Futures Surge In Wild Trade. Trump Caused This.

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

Image courtesy of Barchart.com

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