Key facts
- WTI crude futures have risen nearly 10% over the past three days.
- Hopes for a quick peace deal are fading.
West Texas Intermediate (WTI) crude futures have experienced a rally for the third consecutive day, with prices increasing by nearly 10% over the past three days. This upward movement in oil prices is occurring as hopes for a swift resolution to a peace deal appear to be diminishing. The fading optimism for a quick peace agreement suggests a potential increase in geopolitical uncertainty, which often correlates with higher oil prices due to supply disruption concerns.