WTI Oil Soars Nearly 2.6% as Geopolitics Overtakes Fundamentals

West Texas Intermediate (WTI) climbed over 2.3% on Monday as rising tensions in two conflict zones outweighed supply and demand fundamentals that should have put downward pressure on crude prices.  At 12:37 p.m. ET on Monday, WTI was up 2.59%, trading at $75.31, for a $1.90 gain on the day, while Brent crude was up 1.90%, trading at $80.05, for a $1.49 gain on the day.  Overall, weakening demand and slowing economic growth have kept oil prices from soaring on geopolitical developments, Wednesday’s gains reflect an intensification…