WTI Crude Oil futures experienced a volatile trading week, initially rallying to a midweek peak of $97 a barrel due to geopolitical uncertainty and ceasefire headlines before reversing lower to hover near $90 a barrel. While energy markets have driven recent trade, a stronger-than-expected U.S. jobs report shifted investor focus toward potential fourth-quarter central bank rate hikes. Data from the CME Group CVOL index highlighted that market volatility came off alongside the decline in crude prices, continuing a multi-week trend. Additionally, weekly positioning data showed that speculators continued to exit their net long positions, extending a liquidation trend that began in late March.