USOILCrude Oil (WTI)
101.89
+6.78%
Past
What happened
WTI crude jumped 6.8% to $101.89 as OPEC cut its 2026 demand growth forecast but geopolitical risk premium surged on Iran tensions and Strait of Hormuz concerns.
Why
Why it matters
The supply story dominates demand worries -- Strait of Hormuz shipping lane fears are adding $5-8 of risk premium, and any escalation takes oil toward $110.
Watch
What to watch
EIA crude inventories Wednesday -- a large draw would confirm tight supply; Trump-Xi summit could ease Iran tensions if discussed, capping upside.
HEADLINES
- Exchange-Traded Funds, US Equities Mixed After MiddayMT Newswires
- Higher Oil Prices Fuel Long-Term Outlook For This Energy StockInvestor's Business Daily
- OPEC Lowers 2026 Global Oil Demand Growth Forecast, Lifts 2027 OutlookMT Newswires