Oil Markets Reprice Risk as Geopolitics Overtake Fundamentals

Oil markets didn’t just rally this week; they repriced risk in a way that forced traders to adjust positioning quickly. What began as a recovery from prior weakness turned into a sharp geopolitical premium build, with supply disruption fears taking control of both WTI and Brent. By Thursday night, Weekly June WTI crude is trading $96.91, up $14.32 (+17.34%), a move that reflects more than momentum and signals a structural shift in how the market is pricing near-term supply risk. Geopolitical Premium Drives Breakout in WTI and Brent The early…