WTI Crude Oil futures hit 23-session low amid Gulf disruptions.

In the energy quadrant, July WTI Crude Oil futures fell to a 23-session low, dropping to 85.95 before rallying slightly. The market remains down roughly 3.48% as global supply chain disruptions take center stage. Chinese crude imports for May plummeted to their lowest levels since October 2017, a direct result of the price spike caused by Persian Gulf disruptions. Instead of pivoting to U.S. supply, China is drawing on domestic stockpiles while Hormuz-reliant sources remain offline, a dynamic that masks true global imbalances. Looking ahead, traders are focused on upcoming U.S. inventory data, with expectations pointing toward a 5.1 million barrel draw as Middle East shipping issues persist.