WTI Crude Oil futures rise amid falling inventories and geopolitical tensions.

Bob Iaccino from Path Trading Partners discusses the recent rally in WTI Crude Oil futures as the September contract closed at its highest level of the month, up 12.5% from the August 5 low. The market is finding support from a tighter near-term supply picture, highlighted by the EIA's August STEO, which lowered U.S. commercial crude inventory forecasts to 396 million barrels, dropping below the five-year average. Additionally, geopolitical factors are driving prices, with stalled U.S.-Iran negotiations leading to a sharp drop in traffic through the Strait of Hormuz amid ongoing tanker and refinery attacks.