Crude oil futures present a spot premium, and traders expect that the conflict in the Middle East will end soon.

Since the United States and Iran went to war nearly four weeks ago, oil prices have been experiencing severe fluctuations. However, analysts say the market has now entered a "spot price premium" state, indicating that while traders expect the conflict to be resolved quickly, risk premium has already been factored into energy prices. Toni Meadows, investment director at BRI Wealth Management, said in a video call, "This spot price premium - where future prices are lower than current prices - suggests that the market views the current rise in oil prices as temporary." "Therefore, this is a phenomenon caused by sudden events rather than a sustained factor. Otherwise, due to supply shortages, forward delivery prices should be higher. So yes, the current issue stems from the war, but the market expects that the situation will eventually be resolved in some way." Katy Stoves, investment manager at Mattioli Woods, said the spot price premium phenomenon in the oil market is "quite normal under such shocks." She said, "I believe the market expects the conflict to ease, and the spot price premium reflects that. But on the other hand, it may also signal a decline in demand, which could be more concerning."