Crude Oil Prices Slip: WTI Drops to $73.01 on European Open

Crude Oil Prices Under Pressure as WTI and Brent Slip in Early European Trading

West Texas Intermediate (WTI) crude oil opened Wednesday’s European session lower, trading at $73.01 per barrel, down from Tuesday’s close of $73.66. The decline reflects a broader retreat in energy markets amid ongoing global uncertainties.

Similarly, Brent crude oil fell to $75.15, retreating from its previous daily close of $75.70. Both benchmarks are feeling the weight of risk-off sentiment, lingering Middle East geopolitical risks, and cautious positioning ahead of central bank rate announcements.

Oil Prices Capped by Geopolitical and Monetary Policy Factors

Tensions surrounding the Strait of Hormuz—a vital chokepoint for global oil supply—continue to stir supply-side fears. However, slowing economic momentum in key consuming nations and expectations of steady interest rates by the US Federal Reserve may keep demand-side gains in check, limiting oil’s upside potential in the near term.

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