WTI Crude Oil futures hit a six-week low on ceasefire hopes.

WTI Crude Oil futures finished down roughly 1.5% to trade near 87.20, marking a fresh one-month closing low. Energy markets experienced notable selling pressure throughout the session, driving crude prices below the key $88.00 threshold to its lowest level since mid-April. The primary fundamental driver behind the decline is an increased probability of a ceasefire in the Middle East, with market participants pricing in a potential calming of regional tensions ahead of the weekend. This shift has led to a significant 10% drop for WTI crude over the course of the week, pulling prices down to a six-week low. The weakness extended across the energy complex as RBOB Gasoline futures slid approximately 2% on the day, moving toward a one-month low of its own while managing to hold just above the critical $3.00 level.