Recently, I noticed an interesting phenomenon in the crude oil market. U.S. WTI crude oil suddenly jumped 3% just before the Trump administration's deadline on Iran, with the current trading price around $116 per barrel. But at the same time, the international benchmark Brent crude oil hardly moved, still hovering around $110. The fact that these two oil prices are so out of sync initially seemed quite strange. It wasn't until later that I realized this actually reflects a fundamental rule in the oil market. WTI represents the cost of crude oil for delivery in May, while Brent reflects the cost for delivery in June. Simply put, the more urgent you need the oil, the higher the price. So, this recent WTI increase actually indicates short-term demand tension. Geopolitical uncertainties are indeed pushing up near-month crude oil prices.