WTI Crude Oil futures fall on Middle East de-escalation.
WTI Crude Oil futures dropped 4.5% to $91.65, sliding as markets assessed de-escalation in the Middle East and projected global supply surpluses. The selloff came despite an EIA inventory draw of 900,000 barrels, with crude stocks sitting 11 million barrels below year-ago levels. Refinery utilization jumped to 94.5% following seasonal maintenance. Natural Gas futures edged up to $2.91 amid cooler U.S. weather forecasts and a four-session high in LNG export flows, as markets look ahead to Thursday's EIA storage report. Phillip Streible of Blue Line Futures provides daily market analysis.