WTI Crude Oil futures fell sharply amid global supply concerns.

WTI Crude Oil futures experienced significant volatility during Tuesday's session, recording a sharp percentage drop and trading in the mid $86 range. The market is currently navigating complex global supply dynamics as the Strait of Hormuz remains effectively closed to commercial shipping, leaving approximately 300 ships stranded in the Persian Gulf. While administrative officials have expressed confidence that regular tanker traffic may resume in the coming weeks, the market is currently pricing in a reopening rather than a prolonged closure. Traders remain focused on global outage risks and potential geopolitical escalations. Additionally, the upcoming EIA inventory report is expected to show a crude build of roughly 3 million barrels, though domestic storage data is currently secondary to the supply disruptions driving international markets.