WTI December Crude Settles at $104.12, Up 2.08%

The scale of the move is the story: a fourth consecutive monthly gain that compounds to more than 52% over four months points to a sustained repricing rather than a single-session spike, and the breadth across crude, gasoline and heating oil suggests the pressure runs through the whole barrel rather than one product. Natural gas settling well below the refined products is a reminder that this is an oil-led move, not an across-the-board energy one. Whether the streak extends into a fifth month is the open question, and the products complex is where any divergence would likely show first.