WTI Crude Oil futures hit $100 before reversing lower.

WTI Crude Oil futures saw a dramatic reversal today, breaking above the $100 level before finishing in negative territory. This volatility comes as a coalition of global powers, including the U.K., France, and Japan, issued a joint statement regarding efforts to secure the Strait of Hormuz. While the move signals a collective intent to stabilize energy supply routes, the language stopped short of a military commitment, leaving supply concerns in place. Meanwhile, central banks across the globe, including the U.S. Fed, ECB, and Bank of England, held interest rates steady. Policymakers noted that supply-driven inflation from energy prices remains a significant risk to global growth. Traders are closely monitoring the impact of high crude costs on the U.S. dollar and the potential for a slowing global economy as the People's Bank of China prepares for its own rate decision.