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WTI Stages Sharp Comeback as Middle East Supply Risks Intensify

December WTI crude oil futures are lower for the week, but the market has recovered a good portion of its early loss. The contract opened at $90.83, broke to $83.88, then rallied back to $88.20. At that price, WTI is down $2.63 for the week, or 2.90%. Traders took war premium out of crude after President Trump played down the possibility of new U.S. strikes on Iran. Higher Saudi production and a large build in U.S. inventories gave sellers more to work with. But attacks on Saudi energy infrastructure and continued threats to shipping brought buyers…