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macroJul 10, 2026, 7:49 AM

WTI Oil Extends Correction After Hitting Two-Week High, Trades Near $71.50

West Texas Intermediate (WTI) crude oil futures edged lower to near $71.50 during the European session on Friday, extending a pullback from a fresh two-week high of $75.73, as signs of de-escalation in US-Iran tensions weigh on prices.

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West Texas Intermediate (WTI) crude oil futures on NYMEX traded slightly lower near $71.50 during the European session on Friday. The decline extends a correction after the commodity posted a fresh over-two-week high at $75.73.

The retreat comes amid signs of de-escalation in US-Iran tensions, which had previously fueled a rally. No new catalysts have emerged to sustain the upward momentum, leaving oil prices consolidating below the recent peak.

Source: FXStreet Forex News