Will the WTI crude oil settlement price be above 90.49 USD/Bbl on Sep 3, 2026?
October WTI enters the final session above the threshold after consecutive strong gains, so an above-$90.49 settlement is likely with meaningful uncertainty.
October WTI settled at $91.01 on September 2, while the current settlement-basis price of $90.5326 remains only about four cents above the threshold. Recent military escalation and a much larger-than-expected inventory draw support another above-threshold close, but recovering Gulf exports, record U.S. production, and the tiny cushion leave ample room for reversal. On balance, the latest upward momentum makes an above-$90.49 settlement likely with meaningful uncertainty.
- October WTI begins the final session above the cutoff after consecutive strong gains.On September 2, 2026, the October WTI contract settled up $0.79 at $91.01 per barrel.
- A substantially larger-than-expected inventory draw points to tighter near-term U.S. crude availability.On September 2, 2026, U.S. commercial crude inventories were reported down 4.45 million barrels for the week ending August 28, versus an expected 1.1 million-barrel draw.
- Renewed U.S.-Iran military strikes have recently added a geopolitical risk premium to crude prices.On September 1, 2026, WTI settled up $4.46 at $90.22 following renewed military strikes between the U.S. and Iran.
- Recovering Persian Gulf exports reduce immediate fears of a severe regional supply shortage.On September 2, 2026, strategists assessed that further oil-price upside appeared limited as Persian Gulf exports recovered toward two-thirds of pre-war levels.
- Record U.S. crude production provides a substantial supply buffer against geopolitical disruptions.For the week ending August 28, 2026, U.S. crude production matched a record high of 13.862 million barrels per day.
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