WTI Crude Oil futures hit 16-week high as tensions escalate.

Bob Iaccino unpacks the latest price action in WTI Crude Oil futures, which rallied to a 16-week high and tested $102.60 amid intense geopolitical conflict. The discussion highlights escalating strikes around the Strait of Hormuz involving U.S. and Iranian forces, directly impacting oil tankers and vessels in the region. Iaccino also covers the delayed EIA inventory report, noting a 400,000-barrel draw in commercial crude stocks that brings levels exactly in line with the five-year average. Meanwhile, gasoline and distillates posted builds but remain below their respective five-year averages.