Crude Oil Price Today: WTI Slides Below $64 in Early European Trade

Crude Oil Price Today: WTI Bearish on European Opening

West Texas Intermediate (WTI) crude oil is showing bearish pressure during early European trading hours on Monday, dropping to $63.82 per barrel, compared to Friday’s close at $64.10. This reflects a continued soft tone in oil markets, even as investors remain cautiously optimistic ahead of US-China trade discussions.

Meanwhile, Brent Crude remains relatively stable, hovering near $66.34, unchanged from its previous close, indicating a neutral tone on the global oil benchmark.

Price Snapshot:

• WTI Crude: $63.82 (↓ from $64.10 Friday close)
• Brent Crude: $66.34 (flat on the day)

Market Drivers:

• Bearish technical structure following Friday's failure to hold above $64.00.
• US-China trade negotiations are creating cautious sentiment, limiting upside momentum.
• Brent remains range-bound amid lack of fresh supply-side news.

Outlook and Key Levels:

For WTI:

• Immediate Support: $63.50
• Major Resistance: $64.30 (Friday high)
• Next Resistance Level: $65.00 (psychological level)

Related Market Updates on Tredu:

• WTI Retreats Ahead of US-China Talks: What’s Next for Oil Prices?
• Gold Steady Near $3,300: Risk Aversion in Play?
• US Dollar Index Pulls Back: Implications for Oil and Commodities

Conclusion:

WTI prices are struggling to maintain upward momentum and have turned slightly bearish in early European trading. Traders are eyeing potential developments from US-China trade negotiations, which could shape sentiment and direction for the energy markets in the short term.