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WTI jumps $4.93 to $106.31 as supply tightens

AI Market Summary
WTI surged to $106.31 (highest since May) with 11 gains in 12 sessions, signaling an acute supply squeeze as Saudi's east-west pipeline outage, Red Sea loading suspensions, Libya disruptions, and dwindling SPR releases tighten balances. Refined-product stress is intensifying, with diesel at record highs and potential US export limits raising policy risk. Rising energy inflation spillover is pushing global yields higher, with US 10-year reaching 5.04%.
Impact level
● High
Affected assets
NCCO1OILWTI2USD/USDT+2.92%
AI Insight · NCCO1OILWTI2USD/USDTAI Insight
▼ Bearish
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WTI crude rose $4.93 to $106.31, the highest since May, and has finished higher in 11 of the past 12 sessions. The rally has unfolded amid signs of a tightening supply picture. Saudi Arabia’s spare pipeline is offline and repairs are expected to take three to six weeks or longer, while loadings at a Red Sea port have been suspended. Separately, the U.S. 10-year Treasury yield touched 5.04%, its highest level since 2007.
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