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Iran refuses US ceasefire talks in Islamabad, calls demands unacceptable
Tehran rejects Islamabad meeting and labels US demands ' unacceptable,' dealing blow to Pakistan-led mediation efforts as Trump claims talks progressing but no direct negotiations confirmed
https://www.ynetnews.com/article/sk001xkaswg
The nearest U.S. crude oil delivery contract traded Thursday at the biggest premium in history over the subsequent month, after President Donald Trump vowed to bomb Iran for weeks.
West Texas Intermediate prices for May delivery rose more than 11% to close at $111.54 per barrel, or more than $13 above the June price of $98.04 per barrel. It is the biggest spread between the front month and second month in history dating back to 1983.
U.S. crude oil prices fell 1.24% on Wednesday to close at $100.12 a barrel before Trump?s national address on the war. Trump?s previous suggestions that war could quickly end have been effective at depressing prices, said Bob McNally, president of Rapidan Energy.
The market had the perception that this nightmare can?t go on, McNally said. Prices started rising during Trump?s speech as it became clear that a quick end to the war was not in sight.
?I suspect there?s a lot of shorts who were betting on Trump declaring a ceasefire of some sort and they were sort going into the close,? McNally said. ?The speech was bullish and so now we?re seeing some short covering in the May contract on the settle.?
Also Thursday, the spot price for current physical cargoes of Brent crude oil soared to $141.36, the highest level since the 2008 financial crisis, according to S&P Global, which tracks the data.
The spot price reflects the demand for Brent oil that will be delivered in the next 10 to 30 days. The high price for more immediate oil deliveries points to the tightness of physical supply right now due to the huge disruption trigged by the Iran?s closure of the Strait of Hormuz.
Spot price much higher is normal...but not much vol in the market...Not many producer or trader hv excess vol
Brent oil spot price for actual cargo soars to $141, highest level since 2008 financial crisis
Wasted PH if not can open at 85.
month rollover...wti and brent futures expire on different dates. brent started new lower month
makdatok ( Date: 02-Apr-2026 22:08) Posted:
| Very rare sight that wti is higher than brent |
|
Normally,
Brent crude trades at a premium to WTI because Brent is the global benchmark, reflecting seaborne crude with wider market access, while WTI is landlocked in the U.S. and historically discounted due to transport bottlenecks.
So when
WTI trades higher than Brent, it&rsquo s unusual and signals specific market distortions:
🔎 Implications of WTI > Brent
1. US Supply Tightness
- Strong domestic demand or refinery runs in the U.S. can push WTI higher.
- Pipeline or export constraints may limit WTI availability, creating a local premium.
2. Brent Weakness
- Brent prices can soften if North Sea production rises or if European demand weakens.
- Geopolitical easing (e.g., reduced Middle East tensions) can lower Brent&rsquo s risk premium.
3. Arbitrage & Trade Flows
- Normally, traders arbitrage WTI vs Brent by exporting U.S. crude.
- If WTI is higher, arbitrage flows may reverse or stall, affecting global trade balances.
4. Investor Sentiment
- A WTI premium suggests U.S. market tightness relative to global supply.
- It can shift hedging strategies, as refiners and traders recalibrate exposure.
📊 Scenario Mapping
| Condition |
Usual Relationship |
Implication if WTI > Brent |
| Normal Market |
Brent > WTI |
Reflects transport costs & global benchmark premium |
| WTI Premium |
WTI > Brent |
Signals U.S. supply tightness, refinery demand, or Brent softness |
✅ Takeaway
When WTI trades above Brent, it&rsquo s a
signal of localized US crude tightness or
global Brent weakness. For investors, it highlights shifting trade flows and potential arbitrage opportunities, while for energy companies it can affect margins depending on whether they&rsquo re U.S.‑ focused or globally benchmarked.
makdatok ( Date: 02-Apr-2026 22:08) Posted:
| Very rare sight that wti is higher than brent |
|
if red sea close too, 150
Very rare sight that wti is higher than brent
Please continue with your good work of news reporting.
piscesmonkey ( Date: 02-Apr-2026 21:10) Posted:
Wow hit 114 power
JurongW ( Date: 02-Apr-2026 20:30) Posted:
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Wow hit 114 power
JurongW ( Date: 02-Apr-2026 20:30) Posted:
piscesmonkey ( Date: 02-Apr-2026 20:19) Posted:
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piscesmonkey ( Date: 02-Apr-2026 20:19) Posted:
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Happy long weekend bro. Huat ah
Chansenghoe1971 ( Date: 02-Apr-2026 17:09) Posted:
Day trade
Monday don grab up first
Wait for me.
Good week this week
Have. Nice long weekend
piscesmonkey ( Date: 02-Apr-2026 17:06) Posted:
| I sell abit testing on matching JP morgan buyin |
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