Analyst: Trump Speech Drives Soaring Oil Prices, Risk Premium Surges

BlockBeats News, April 2nd, crude oil futures prices surged. Prior to this, Trump made remarks on the Iran war, dampening traders' expectations for a quick resolution to the Middle East conflict. TP ICAP analyst Scott Shelton stated in a report: "Oil prices were under pressure for most of the week, but Trump's remarks caused a sudden overnight surge in oil prices. The remarks leaned more towards escalation and completing the mission, with little mention of peace negotiations." He pointed out that although this move may be aimed at forcing Iran back to the negotiating table, the risk premium has sharply increased. (FX678)