WTI Crude Holds Near $100 as Mideast Conflict Widens
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Crude oil has extended its rally as the conflict in the Middle East shows no sign of resolution, pushing WTI toward the psychologically critical $100 level. Global oil stocks continue to shrink, removing a key buffer that had previously capped price spikes.
The knock-on effect is already visible in refined products: U.S. diesel prices have surged roughly 60% since late February, a move that is reviving inflation concerns among policymakers. For WTI traders, this dynamic suggests upside momentum is being reinforced by physical market tightness, not just headline risk.
With recession fears resurfacing alongside inflation alerts, WTI's next moves will likely hinge on whether central banks are forced to react to energy-driven price pressure.