Bob Iaccino from Path Trading Partners discusses the recent rally in WTI Crude Oil futures as the September contract closed at its highest level of the month, up 12.5% from the August 5 low. The market is finding support from a tighter near-term supply picture, highlighted by the EIA's August STEO, which lowered U.S. commercial crude inventory forecasts to 396 million barrels, dropping below the five-year average. Additionally, geopolitical factors are driving prices, with stalled U.S.-Iran negotiations leading to a sharp drop in traffic through the Strait of Hormuz amid ongoing tanker and refinery attacks.