WTI Crude Oil futures paused as U.S.-Iran tension escalated.

Phillip Streible discusses WTI Crude Oil futures taking a breather around $80 a barrel after an 11% rally sparked by the collapse of the U.S.-Iran ceasefire. Tensions remain high as the U.S. resumed its blockade on Iranian shipping through the Strait of Hormuz. The weekly EIA report supported the market, showing a crude draw of 1.7 million barrels and gasoline inventories falling by 1.5 million barrels during peak summer driving season. Additionally, Natural Gas futures snapped a four-day losing streak due to declining production, though gains remain capped by forecasts of cooler weather in the Southwest and low LNG export flows.