According to The Kobeissi Letter, oil prices are rapidly approaching $60 per barrel as President Trump announced potential sanctions on any country purchasing oil from Iran, stating these countries would be barred from conducting business with the United States. This development introduces significant volatility to energy markets, with traders anticipating tighter global oil supplies and elevated price risk in the near term. The threat of U.S. sanctions is likely to prompt increased demand for non-Iranian oil and may lead to price spikes across related commodities and energy-linked assets (source: The Kobeissi Letter on Twitter, May 1, 2025).