Will WTI Crude Oil (WTI) hit (HIGH) $100 in September?

Analysis

West Texas Intermediate was changing hands around $93.55 to $94.10 a barrel as of September 28, up roughly 1 to 1.7 percent on the day but still sitting nearly $6 below the $100 mark this question requires. That bounce follows a rough stretch: WTI fell 7.9 percent over the prior week on reports that the United States could ban diesel exports to ease record prices, a move that would squeeze refining throughput and crude demand. With only about two trading sessions left in the month, the math is unforgiving. A single-day move of even 6 percent, which would be unusual given the reported weekly losses, would not close the gap to $100 on its own. There is a live catalyst working the other way. Reports say President Trump rejected an Iran peace deal, and Brent has responded more sharply than WTI, gaining over 2.5 percent to near $107. Traders are also watching Wednesday's crude inventory data, though that release falls right at the edge of the window and after most of September's trading has already concluded. Given the distance to $100, the shrinking calendar, and a domestic policy overhang on refining demand, the case for WTI actually reaching that level this month is thin. The one thing to watch: any escalation around the Strait of Hormuz that pushes Brent's gains through to WTI faster than the recent pattern suggests.