Oil traders are intensifying their use of niche spread bets to hedge against the escalating US-Iran war's impact on global crude markets. As the conflict enters its third month, uncertainty surrounds how US inventories and Iran's role as the newly crowned top crude exporter will shape supply chains. The war has forced traders to navigate divergent scenarios: a potential surge in Iranian exports if tensions ease, or a tightening of US sanctions that could disrupt flows. Global oil prices remain volatile as markets weigh geopolitical risks against inventory data, with Iran facing mounting pressure to offset OPEC+ cuts while maintaining stability.