WTI Crude Oil futures climbed past $91 amid Middle East conflict.

July WTI Crude Oil futures traded over $91 following escalating attacks between the U.S. and Iran, bringing a geopolitical risk premium back into the market. Despite prices remaining below late-April highs, futures have traded in a wide range, with potential for further upside if the conflict escalates or a retest of the lower $88 bound if tensions ease. Meanwhile, the latest EIA inventory report showed a significant crude draw of 7.2 million barrels, leaving total stocks at 426 million barrels-well below the five-year average. Refinery utilization has climbed to 95.3%, and gasoline inventories remain historically tight heading into peak summer driving demand. In the natural gas market, futures continue to find support as forecasts shift toward a warmer second half of June, increasing expected cooling demand.