WTI/USD

The WTI crude oil barrel has shown a steady variation of barely 2% over the past two weeks of trading, settling around the $60 per barrel zone.

WTI crude has dropped more than 18% over the past seven trading sessions, and the strong bearish bias has remained intact.

After falling to the $65 per barrel zone, WTI has rebounded by more than 4% over the last five trading sessions.

The price of WTI crude has dropped more than 6% over the past four trading sessions, settling around $67 per barrel, a level not seen since early December 2024.

The price of WTI has dropped more than 3% over the last three trading sessions. This significant bearish movement is mainly due to a potential easing of geopolitical tensions, such as the conflict in Ukraine.

WTI prices have posted a rebound of more than 1% in recent trading hours after facing consistent bearish pressure for the past three weeks.

WTI crude has accumulated a loss of more than 8% in value since mid-January of this year.

The WTI barrel has already recorded five consecutive sessions of losses, with a depreciation of more than 5%.

Since the beginning of the year, WTI has increased its price by more than 8%, surpassing the psychological barrier of $75, previously regarded as the closest resistance.

During the final part of Q4 2024, WTI has remained within the $70 per barrel zone, fiercely resisting movements below this critical support.

Hopes that the US driving season would propel prices to new 2024 highs this summer failed to materialise as demand remained weak in key economic regions like China. At the same time, the OPEC+ appeared content with plans to increase output from the fourth quarter.