WTI Oil Price Slips Below $66 at European Open, Brent Also Weakens

WTI Crude Oil Price Slips Below $66 at European Open

West Texas Intermediate (WTI) crude oil continues its decline, trading at $66.08 per barrel as Thursday’s European session begins. This marks a drop from Wednesday’s close of $66.75, extending bearish sentiment seen in recent sessions.

🌍 Brent Crude Follows Suit

Brent Oil, the global benchmark, is also struggling to find footing. It fell to $68.25, compared to $68.88 at the previous daily close. The synchronized decline in both benchmarks reflects broader concerns over demand outlook and inventory builds.

What’s Driving the Decline?

• Bearish momentum continues amid rising US stockpiles, as reported by the EIA earlier this week.
• Traders remain cautious ahead of key economic data and the upcoming OPEC+ output decision.
• A stronger US Dollar and macroeconomic uncertainty further weigh on risk-sensitive commodities like crude oil.