Project Freedom Live, Clashes Reported, Crude at Inflection Point
Tuesday, May 5, 2026. WTI June futures $101.94, intraday $102.17 (+0.23%), continuous contract $104.34. Prediction markets: 61¢ for $102+. Resistance $102-103, support $100/$98/$95. Project Freedom launched overnight — US military guiding ships, Iran sank six boats after attack attempt. Clashes reported. Inflection point: if Hormuz opens, crude $70-75; if escalation, $120-150. Henry Hub spot $2.86 (+2.77%), forward curve steep. Crude down 6.2M, gasoline down 6.1M, distillate down 4.5M. Volatility extreme. Capital preservation first.
