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macroJun 26, 2026, 8:42 AM

WTI Oil Drops Below $70, Lowest Since February 27

WTI crude oil fell to $69.65 on Friday, its lowest level since late February, amid expectations of higher Middle East supply and following a joint US-Israel attack.

USOIL

West Texas Intermediate (WTI) crude oil extended losses on Friday, trading at $69.65 per barrel — the weakest level since February 27. The decline pushed prices decisively below the $70 psychological mark.

The drop comes amid growing expectations of increased crude supply from the Middle East. The previous low of February 27 occurred one day before the US and Israel launched a joint military operation, according to the source. The attack's full impact on oil markets remains unclear.

Traders are now watching for further developments in the region and any supply-side signals from OPEC+.

Source: FXStreet Forex News