WTI Crude Oil futures traded higher, pushing up approximately 5% to reach top-of-range levels near 99.25 for the May contract. Prices advanced in three of the last four sessions, driven by a persistent "weekend effect" where traders account for uncertainty regarding Middle East tensions and global shipping concerns. This buying pressure has lifted crude-based energy products across the board, with WTI, Heating Oil futures, and RBOB futures all testing their highest levels since July 2022. Brent crude also surpassed the 100 mark. Meanwhile, Natural Gas futures remain a notable outlier, holding steady around the 3 level but lagging behind the broader crude market rally.
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