WTI Crude Oil futures hit highest levels since June 2022.

Today in the energy markets, WTI Crude Oil futures traded higher for a second consecutive session, setting a new closing high for the May contract despite backing off an intraday peak above 115. Prices continue to hover near four-year highs not seen since June 2022. The market remains supported by ongoing geopolitical uncertainty and mixed messaging from the Middle East, which has raised concerns over long-term impacts on shipping, transportation, and production. However, emerging dialogue in the region has helped temper near-term volatility. Elsewhere in the energy sector, heating oil, RBOB, and natural gas futures all saw slightly higher price action, though natural gas remains near multi-year lows.