Geopolitical Risk Premium Returns as Crude Posts Biggest Weekly Gain in Months

September WTI crude oil posted its strongest weekly gain in months, rallying over 11% as traders rapidly rebuilt a geopolitical risk premium into the market. After opening the week near $72. 50, prices climbed above $80 before easing slightly into Thursday's close.

The move marked a dramatic reversal from the previous two weeks, when optimism over improving oil flows through the Strait of Hormuz had pressured prices lower.