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WTI for December delivery is trading near $101.79, a shade above the 100.99 strike with only hours left before the October 26 settlement.
The contract settled at $103.27 on October 23, its highest in nearly six months, after Houthi missile and drone attacks on Saudi energy infrastructure and a reported UAE oil spill revived supply-disruption fears. More than twenty attacks on shipping around the Strait of Hormuz in the prior two weeks kept freight and risk premiums elevated. Holding above the strike into settlement is favored on that geopolitical bid and the recent settle above the threshold.
No factor breakdown on this forecast.
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