WTI Crude Oil futures rise as diesel margins hit record highs.

Phillip Streible breaks down the latest price action in WTI Crude Oil futures and Natural Gas futures. Crude oil trades higher near $85 a barrel, supported by tight global product markets and surging diesel margins that have reached record highs. Market participants are monitoring the Middle East for potential supply disruptions following recent geopolitical developments. In the latest EIA report, crude inventories built by 4.4 million barrels, bringing total stocks slightly above the five-year average, while refinery utilization showed a minor decline. Meanwhile, Natural Gas futures are catching a bid over $2.83 as forecasts project intense heat in Texas, with Houston temperatures expected to average 100 degrees, potentially pushing power demand to record levels. The upcoming EIA storage report remains the next catalyst for natural gas markets.