WTI Explodes Higher as Middle East Shipping Risks Multiply

September WTI crude oil futures were trading at $92.31 late Thursday, up $10.54 or 12.89% for the week. The contract posted a weekly low at $79.58 before climbing to a weekly high at $92.31. This was not a normal risk-premium rally. WTI started the week with the Strait of Hormuz…