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macroJun 4, 2026, 6:38 PM

WTI Crude Oil Slips Amid Israel-Lebanon Ceasefire

West Texas Intermediate crude oil fell nearly 3% on Thursday after a ceasefire between Israel and Lebanon eased Middle East tensions, breaking a three-day winning streak.

USOIL

West Texas Intermediate (WTI) crude oil dropped nearly 3% on Thursday, trading around $91 per barrel. The decline followed a ceasefire agreement between Israel and Lebanon, which reduced geopolitical risk premiums in the oil market. The move ended a three-day winning streak for WTI as market sentiment improved on the news.

The ceasefire eased fears of supply disruptions in the Middle East, a key oil-producing region. Traders are now watching for further developments and potential impact on global crude inventories.

Source: FXStreet Forex News