WTI Rebounds Above $75 After 5% Plunge on Technical and Diplomatic Factors

West Texas Intermediate crude oil edged higher on Wednesday, trading near $75.50 per barrel and gaining 1.56% on the session. The move comes after a sharp drop of more than 5% in the prior day, which triggered a technical rebound as investors bought the dip.

The recovery was also supported by diplomatic optimism, although specifics were not immediately clear. Market participants are closely watching any developments that could affect supply or demand dynamics.

Crude prices remain sensitive to geopolitical headlines, and the combination of oversold conditions and hopeful signals helped lift the benchmark off its lows.