Crude oil futures fall below key resistance levels, signaling potential further declines toward $90.90 and $89.41.
Light crude oil futures slid 4.98% to near $91.79, extending losses from a prior close at $97.00. The decline reflects strong seller control, with the market testing support levels after a sharp downside move.
Analysts note the bearish structure remains intact below $92.05-$92.70 resistance. A break below $91.32 could target $90.90, $90.25, and $89.41, while reclaiming $92.72 would ease immediate pressure.
For consumers, sustained crude weakness may eventually lower gasoline prices, though retail adjustments depend on refining margins and local supply conditions.