Sell WTI by Aug 6, 2026.

Without US export restrictions, oil could well go into the 150-200 range by June/July if there is no ceasefire. Trump cannot afford the political loss of US gas prices going above $5 a gallon, but he also cannot afford the political loss of agreeing to Iranian demands. Whats his only way out? Export restrictions on US oil when things go south. WTI falls, Brent skyrockets. The WTI-Brent spread usually trades around $5-7. This could raise that spread to over $50. …