WTI Dips Below $72 Despite Supply Concerns

West Texas Intermediate (WTI) crude oil edged lower on Tuesday, trading around $71.70 per barrel during the European session after paring daily gains.

The decline comes despite renewed concerns over global supply, which had initially pushed prices higher earlier in the day. The retreat below the $72.00 mark indicates that bearish factors, such as demand outlook or broader macro pressures, may be outweighing supply-side risks.

Traders will watch for further cues from inventory data and geopolitical developments that could shift the supply-demand balance in the coming sessions.