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macroJul 9, 2026, 10:01 AM

WTI Crude Slips Below $74 on Profit-Taking, Geopolitical Risks Curb Losses

West Texas Intermediate crude fell nearly 2% on Thursday as traders booked profits after a recent rally, though ongoing Middle East tensions prevented a steeper decline.

WTI

West Texas Intermediate (WTI) crude oil traded lower on Thursday, slipping below $74 and hovering near $73.10 at the time of writing — a 1.95% daily decline. The pullback was driven by profit-taking following two consecutive sessions of gains.

Despite the selloff, downside remained limited due to heightened geopolitical risks in the Middle East, which continue to support oil prices. The region’s instability has kept traders cautious, preventing a sharper correction.

The move comes amid broader uncertainty over supply disruptions and demand outlook, with markets closely monitoring developments in the Middle East for further direction.

Source: FXStreet Forex News