$WTI Crude Oil - main 2604(CLmain)$ surged 7% today, touching $76 in premarket trading. $Natural Gas - main 2604(NGmain)$ jumped nearly 5% in a single session, while precious metals lagged behind. The real eye of the storm lies in the Strait of Hormuz — the choke point of global energy supply is being squeezed.
Oil at 52-Week High: Can Trump Stop the March to $100?
U.S. crude oil futures (WTI) ignited on Thursday, surging 8.5% to settle near $81 per barrel, its highest level since July 2024. This spike comes as investors price in a "long-war" scenario in the Middle East, with Brent crude also breaking above the $85 mark. The market is currently grappling with a "Strait of Hormuz premium," as prediction-market odds of a closure hit an all-time high of 86%.
Would supply squeeze push crude above $100?
Or will a potential SPR release force a "gap fill" back toward $73?
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