Crude oil all-time high by April 30 trades at 1% YES, down from 2% a week ago, as the Iran war’s impact on circuit board supply chains pushes traders to reassess oil positions.
Market reaction
The April 30 market has barely moved, with odds at 1%. Six days remain until resolution, and the market prices in deep skepticism about crude reaching the $120/barrel threshold. The Strait of Hormuz remains a chokepoint for oil supplies, but that alone hasn’t been enough to push prices toward record territory.
The US-Iran nuclear deal by April 30 holds at 2% YES. No new information on negotiations has surfaced, and the market has been flat, with trader attention concentrated on oil supply rather than diplomacy.
Why it matters
Order book depth for the crude oil market is thin: just $695 is needed to move the price five points. That makes the market vulnerable to large trades, though the largest recent move was a one-point spike. Volume is at $2,513 in USDC traded daily, pointing to cautious positioning given the ongoing conflict and the near-term expiration.
What to watch
A YES share at 1¢ pays $1 if crude surpasses previous highs by April 30, a 100x return. Traders are overwhelmingly betting against this outcome given the short timeline. OPEC+ announcements or US decisions on strategic petroleum reserves could shift the odds. So could any indication of a prolonged Hormuz closure or new military escalations.
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Crude Oil All Time High April 30| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 1.1% | — | — | Trade → |
| Contract | Odds | Δ since publish | Volume 24h | |
|---|---|---|---|---|
| April 30 | 2.1% | — | — | Trade → |
