WTI Crude Oil futures test $100 as U.S.-Iran diplomacy drives volatility. 5/11/26

WTI Crude Oil futures experienced a volatile start to the week, briefly rallying north of $100 a barrel for the first time since the previous Wednesday before settling at 98. Todd Colvin of Mark IV Brokerage examines how the ongoing diplomatic uncertainty between the U.S. and Iran continues to act as a primary catalyst for these price swings. This early-week rally mirrors patterns observed in previous sessions where initial gains were followed by late-week retracements. The analysis also covers volatility and market positioning, noting a slight uptick in the C-Vol index alongside rising prices. Furthermore, speculator data indicates a persistent exit from net long positions, extending a liquidation trend that first emerged in late March. Colvin provides context on whether this technical positioning reflects a shift in long-term sentiment amid the current geopolitical backdrop. Learn more about trading futures and options at CME Group: https://www.cmegroup.com/markets/energy.html #CrudeOil #WTI #EnergyMarkets