WTI crude settles at $91.48/bbl

The settlement level itself is less notable than the cross-market snapshot it anchors: energy complex prices are clustering at multi-month highs, with heating oil leading the move. That spread structure points to refining margins and distillate tightness, which matters for downstream inflation inputs and industrial cost bases. The open question is whether crude holds above the psychological $90 mark while product prices stay elevated, or if the backwardation in the complex begins to flatten as supply concerns ease. Watching the relationship between WTI and product cracks will signal whether this is a demand-driven rally or a supply-side squeeze.