WTI Rebounds Above $81 as Supply Fears Mount
West Texas Intermediate crude snapped a three-day losing streak, climbing back to $81 a barrel as mounting supply concerns supported prices.
After three consecutive sessions of declines, WTI crude oil recovered to trade near $81 per barrel during European hours. The rebound came as supply fears resurfaced, overshadowing earlier downward pressure.
Market participants pointed to renewed anxiety over potential disruptions that could tighten global crude balances, providing a floor under prices. The recovery erases a portion of the recent losses, though traders remain alert to any escalation.
The benchmark’s move above the $81 handle brings it back toward levels seen earlier in the week, but sentiment remains fragile amid lingering demand-side uncertainties and upcoming inventory data.
Source: FXStreet Forex News