[MARKET UPDATE] Crude continues ticking higher and closes the gap seen at the open following the UKMTO report of an incident 78 NM north of Fujairah, UAE; WTI Jun top end of 99.11-102.26/bbl range, Brent Jul top end of 105.55-108.80/bbl range

Crude prices are reacting to geopolitical tensions following an incident reported by the UK Maritime Trade Operations near Fujairah, which may raise concerns over supply security in the region. The WTI and Brent benchmarks are approaching the upper ends of their recent trading ranges, indicating heightened market sensitivity to such risks and potential support for prices if the situation escalates.