WTI crude oil futures have surged above $111 per barrel as of April 3, 2026, propelled by escalating geopolitical tensions in the Strait of Hormuz, where Iran's effective blockade threatens 20% of global supply flows amid U.S.-Iran conflict rhetoric following President Trump's recent address dashing hopes for quick resolution. This risk premium has driven extreme backwardation, with May WTI trading up to $16.70 per barrel over June contracts, overshadowing the latest EIA data showing a 5.5 million-barrel inventory build to 461.6 million barrels for the week ended March 27. OPEC+ maintains output cuts into 2026, supporting prices despite softening demand signals. Traders eye the April 8 EIA weekly petroleum status report and any Hormuz escalation for next week's price direction.
Experimental AI-generated summary referencing Polymarket data · Updated↑ $145
6%
↑ $140
8%
↑ $135
21%
↑ $130
16%
↑ $125
26%
↑ $120
49%
↑ $115
59%
↓ $110
90%
↓ $105
50%
↓ $100
59%
↓ $95
50%
↓ $90
11%
↓ $85
50%
↓ $80
50%
$0.00 Vol.
↑ $145
6%
↑ $140
8%
↑ $135
21%
↑ $130
16%
↑ $125
26%
↑ $120
49%
↑ $115
59%
↓ $110
90%
↓ $105
50%
↓ $100
59%
↓ $95
50%
↓ $90
11%
↓ $85
50%
↓ $80
50%
For WTI futures, the active month refers to the nearest listed contract month. The active month changes at 6:00:00 PM ET at the start of the trading session two business days prior to that contract's last trading day, at which point the next listed contract becomes the active month.
For WTI Crude Oil (CL) futures, the last trading day is defined as three business days prior to the 25th calendar day of the month preceding the contract's delivery month, consistent with CME contract specifications.
Only prices achieved during the applicable trading session for the underlying market will be considered. Under the standard schedule, trading is open from 6:00:00 PM ET Sunday through 5:00:00 PM ET Friday, with a daily break from 5:00:00 PM ET to 6:00:00 PM ET, except where modified by holiday or special-session hours as listed on Pyth.
Prices will be used exactly as published by Pyth, without rounding.
If the Active Month contract does not trade at all during the listed time frame, this market will resolve to "No".
In the event of a contract specification change, feed change, or similar structural modification affecting the underlying market during the listed time frame, this market will resolve based on adjusted prices as displayed on Pyth.
The resolution source for this market is Pyth — specifically, the Active Month WTI Crude Oil futures "High" prices available at https://pythdata.app/explore/Commodities.WTIK6%2FUSD, with the chart settings configured for 1-minute candles.
Historical 1-minute candles may be accessed by appending a Unix timestamp (seconds) to the Pyth chart URL using the "t=" parameter.
If the relevant Pyth data is unavailable due to a system outage, data failure, or other technical disruption that prevents verification of the required 1-minute candle data, the official daily high price published for the Active Month WTI Crude Oil (CL) futures contract by CME Group may be used to determine whether the listed price was reached during the applicable trading session.
Market Opened: Apr 3, 2026, 6:02 PM ET
Resolution Source
https://pythdata.app/explore/Commodities.WTIK6%2FUSDResolver
0x65070BE91...For WTI futures, the active month refers to the nearest listed contract month. The active month changes at 6:00:00 PM ET at the start of the trading session two business days prior to that contract's last trading day, at which point the next listed contract becomes the active month.
For WTI Crude Oil (CL) futures, the last trading day is defined as three business days prior to the 25th calendar day of the month preceding the contract's delivery month, consistent with CME contract specifications.
Only prices achieved during the applicable trading session for the underlying market will be considered. Under the standard schedule, trading is open from 6:00:00 PM ET Sunday through 5:00:00 PM ET Friday, with a daily break from 5:00:00 PM ET to 6:00:00 PM ET, except where modified by holiday or special-session hours as listed on Pyth.
Prices will be used exactly as published by Pyth, without rounding.
If the Active Month contract does not trade at all during the listed time frame, this market will resolve to "No".
In the event of a contract specification change, feed change, or similar structural modification affecting the underlying market during the listed time frame, this market will resolve based on adjusted prices as displayed on Pyth.
The resolution source for this market is Pyth — specifically, the Active Month WTI Crude Oil futures "High" prices available at https://pythdata.app/explore/Commodities.WTIK6%2FUSD, with the chart settings configured for 1-minute candles.
Historical 1-minute candles may be accessed by appending a Unix timestamp (seconds) to the Pyth chart URL using the "t=" parameter.
If the relevant Pyth data is unavailable due to a system outage, data failure, or other technical disruption that prevents verification of the required 1-minute candle data, the official daily high price published for the Active Month WTI Crude Oil (CL) futures contract by CME Group may be used to determine whether the listed price was reached during the applicable trading session.
Resolution Source
https://pythdata.app/explore/Commodities.WTIK6%2FUSDResolver
0x65070BE91...WTI crude oil futures have surged above $111 per barrel as of April 3, 2026, propelled by escalating geopolitical tensions in the Strait of Hormuz, where Iran's effective blockade threatens 20% of global supply flows amid U.S.-Iran conflict rhetoric following President Trump's recent address dashing hopes for quick resolution. This risk premium has driven extreme backwardation, with May WTI trading up to $16.70 per barrel over June contracts, overshadowing the latest EIA data showing a 5.5 million-barrel inventory build to 461.6 million barrels for the week ended March 27. OPEC+ maintains output cuts into 2026, supporting prices despite softening demand signals. Traders eye the April 8 EIA weekly petroleum status report and any Hormuz escalation for next week's price direction.
Experimental AI-generated summary referencing Polymarket data · Updated



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