WTI Holds Near $91 as Fragile Ceasefire and Peace Hopes Weigh

WTI crude stabilized near $91 per barrel on June 6 after a volatile week. Prices surged June 1–3 on Iranian missile strikes and supply fears, pushing WTI above $93, then reversed sharply June 4–5 as an Israel-Lebanon ceasefire and U.S.-Iran diplomatic signals cut the risk premium. Hezbollah’s rejection of the truce and persistent Hormuz disruptions kept a modest floor under markets, leaving WTI on track for a 3–6% weekly gain despite the pullback. Inventory draws and OPEC+ restraint continue to support underlying tightness.