WTI Crude Oil futures fall as Hormuz transit resumes.

Bob Iaccino from Path Trading Partners breaks down the latest movements in WTI Crude Oil futures, which finished the session lower to cap off the sharpest quarterly drop since 2020. Market focus centers on the Middle East as diplomats prepare for renewed talks in Doha following a volatile weekend. Tanker traffic has resumed through the Strait of Hormuz, and under a new interim agreement, transit fees have been paused for 60 days. The broader conflict has already removed over 1 billion barrels from total global supply. Despite the resumption of shipping, analysts note that the recent price drop may be overly optimistic regarding the speed of a full supply recovery, leaving potential upside risks for crude oil prices if escalations resume.