WTI Crude Oil futures pushed above $105 a barrel as the June contract surged, shifting the entire curve higher. The supply shock narrative remained intact amid U.S. naval operations in the Strait of Hormuz and the UAE announcing its departure from OPEC. The EIA reported a sharp reversal with a draw of 6.23 million barrels of commercial crude oil, alongside a 6 million barrel draw in gasoline inventories. Elsewhere, Natural Gas futures eased below $2.65 ahead of the weekly storage report, where an 83 billion cubic feet build was anticipated amidst above-normal spring temperatures.
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