WTI Crude Oil futures spiked above $90 a barrel today, marking the highest level since September 2023. This move follows a 30% increase for the week, driven by escalating geopolitical tensions and logistical disruptions in the Strait of Hormuz. Commercial traffic through the region has significantly decreased, prompting some producers to slow or halt production. Corresponding with the price spike, oil volatility reached its highest level since April 2020. While speculators saw little change in their net long positioning as of Tuesday, they have been steadily adding to positions throughout 2026.
https://www.cmegroup.com/markets/energy.html
#CrudeOil #Futures #EnergyMarket
https://www.cmegroup.com/markets/energy.html
#CrudeOil #Futures #EnergyMarket