WTI Crude Oil futures reversed intraday gains amid Middle East talks.

Today in the energy market, WTI Crude Oil futures experienced significant intraday volatility, initially surging to a high of 105.63 before giving up those gains to trade around 98.75. The early buying pressure was largely driven by geopolitical concerns, specifically negotiations in the Middle East and announcements regarding the potential closure of the Strait of Hormuz. However, as the session progressed, the market tone softened on the possibility of further negotiations, leading to renewed selling pressure. Consequently, WTI Crude Oil futures faded from their morning highs and established a trading range between 90 and 98. The market is now tracking toward its fourth consecutive session closing below the 100 level, a notable pullback from reaching 115 just over a week ago.