WTI Crude Oil futures experienced continued upward momentum today, trading higher in five of the last six sessions and reaching a three-week high of 96.30. The primary driver remains the ongoing geopolitical uncertainty in the Middle East, as unresolved peace talks elevate supply concerns and sustain market demand. WTI Crude Oil futures have trended consistently higher since hitting mid-April lows of 82.60. Meanwhile, Natural Gas futures presented a contrasting technical setup, bouncing 2% to trade around 2.75 after hitting a 19-month closing low in the previous session. The energy complex as a whole continues to navigate supply fears and technical rebounds.
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