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macroJun 17, 2026, 8:17 AM

WTI Crude Extends Losses, Closes Below 200-Day EMA

WTI crude oil continued its decline on Tuesday, falling below the 200-day exponential moving average for the first time since February as geopolitical risk premiums diminish.

WTI

WTI crude oil extended its slide on Tuesday, closing below the 200-day exponential moving average (EMA) for the first time since February. The move signals a fading of the geopolitical risk premium that had supported prices earlier in the year.

The break below this key technical level suggests a shift in market sentiment, with traders pricing in reduced supply concerns. Further downside may be limited by ongoing OPEC+ production cuts, but near-term momentum remains bearish.

Source: FXStreet Forex News