WTI Crude Oil Futures Drop
August WTI Crude Oil futures fell over 4.67% as tensions eased following the U.S. and Iran peace deal
67% and breaking below the 70 level. S. and Iran peace deal, with the IMO confirming safety guarantees for hundreds of tankers crossing the Strait of Hormuz. Prices are now trading roughly 40% below their conflict peak.
S. stocks to 412 million barrels—well below the five-year average. 1 million barrel build in inventories. 18, finding support ahead of tomorrow's EIA report even as updated forecasts signal cooler weather and Permian Basin pipeline capacity expands.