https://www.instagram.com/vanessaclarkipaiThis is your Crude Oil podcast.Hey everyone, this is Vanessa Clark with your Daily Crude Oil Price Tracker. Thanks so much for tuning in today. We've got some major market movements to break down for you, so stick around.As we're recording this morning, Brent crude is trading at around one hundred six dollars per barrel, up significantly from yesterday's close. West Texas Intermediate, or WTI, is sitting near one hundred four dollars per barrel. That's a sharp reversal from where we started the day.Here's what happened. Oil markets opened lower this morning, dropping near one hundred dollars per barrel as traders anticipated President Trump's address to the nation. But then everything shifted dramatically once he delivered his prime-time remarks from the White House last night. Instead of signaling de-escalation in the Middle East conflict, Trump warned that the US would hit Iran extremely hard over the next two to three weeks. He also called on other nations to help reopen the Strait of Hormuz, a critical global oil shipping route that's currently closed.That messaging sent crude prices surging more than five percent. Traders are now concerned about prolonged supply disruptions and potential escalation of military operations. Iran has rejected Trump's ceasefire claims and says the Strait of Hormuz will remain closed under their control.What's interesting is that despite these geopolitical tensions, US crude inventories jumped five point five million barrels last week to four hundred sixty-one point six million, which is well above forecasts. This marks the sixth straight week of inventory increases, suggesting ample domestic supply even as global markets worry about disruptions.The International Energy Agency has warned that disruptions could intensify throughout April if the Strait remains closed for an extended period, which would particularly impact European energy supplies.So here's the bottom line for you. We're seeing crude prices driven primarily by geopolitical uncertainty rather than fundamental supply and demand factors. The market is pricing in the risk of a prolonged conflict and continued blockade of a major shipping route.Thanks for listening to the Daily Crude Oil Price Tracker. Be sure to subscribe and tune in next time for more updates on what's moving the crude oil market. I'm Vanessa Clark, and we'll catch you tomorrow.For more http://www.quietplease.aiCheck out Vanessa on Instagram https://www.instagram.com/vanessaclarkipaiFor some deals, check out https://amzn.to/4hSgB4rThis content was created in partnership and with the help of Artificial Intelligence AI

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