Hormuz Uncertainty Keeps Oil Markets on Edge

September WTI crude oil futures were trading at $84. 12 late Thursday, down $6. 35, or 7. 02%, for the week. With Friday’s session still ahead, the weekly result is not final.

But the week’s main story is clear: crude sold off hard when traders thought diplomacy could restore a workable route through the Strait of Hormuz, then rebuilt part of that risk premium when the military exchange returned.