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macroJun 26, 2026, 5:09 AM

WTI Drops Below $70.50 on Middle East Supply Surge

West Texas Intermediate crude oil fell below $70.50 per barrel during Asian trading, reversing prior gains amid news of increased supply from the Middle East.

WTI

West Texas Intermediate (WTI) crude oil declined during Asian hours, trading around $70.30 per barrel after giving up more than 2% gains from the previous session.

The drop was attributed to a surge in oil supply from the Middle East, putting downward pressure on prices. The move below $70.50 marks a notable reversal after the prior day's rally.

Source: FXStreet Forex News