WTI crude futures extend gains toward $92 amid Middle East tensions
WTI crude futures trade higher, extending recent gains toward $92 a barrel as renewed Middle East geopolitical tensions erase de-escalation optimism. Market pricing sustains a global risk premium after U.S. and Iranian strikes.
WTI Crude Oil futures trade higher, extending recent gains toward $92 a barrel as renewed geopolitical tensions in the Middle East erase de-escalation optimism.
The market prices in a sustained global risk premium following U.S. and Iranian strikes.
Additionally, the EIA reports a crude oil draw of 4.5 million barrels, with refinery utilization climbing to 98%.
Natural Gas futures also rally as above-average temperature forecasts support late-summer power demand, despite elevated production levels.