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macroJun 24, 2026, 2:17 PM

WTI Crude Drops Below $70, Approaching Pre-War Levels Amid Easing Gulf Supply Concerns

West Texas Intermediate crude oil extended its sharp decline, trading around $69.70, down 4.40% on the day and hitting its lowest level since March as fears over Gulf supply disruptions subsided.

WTI

West Texas Intermediate (WTI) crude oil continued its steep drop on Wednesday, falling to around $69.70 per barrel. This represents a 4.40% decline on the day and marks the lowest price since March.

The move brings oil prices close to levels seen before the recent geopolitical tensions in the Gulf region, as supply concerns ease. The decline reflects fading fears of supply disruptions from the Gulf area.

Source: FXStreet Forex News