WTI Extends Losses as Hormuz Flows Recover, OPEC+ Supply Outlook Weighs

West Texas Intermediate (WTI) crude oil is extending its decline on Wednesday, with prices slipping as crude flows through the Strait of Hormuz continue to recover. The improving supply situation is pushing WTI back toward levels seen before the recent US-Iran conflict, dampening bullish sentiment.

The recovery in Hormuz flows is compounding an already cautious market outlook, as expectations of increased supply from OPEC+ also weigh on prices. These factors appear to be overshadowing the latest US crude inventory figures, which typically provide support.

Traders are now focusing on whether the downward momentum will persist, with the supply-side developments taking center stage in the near term.