West Texas Intermediate futures fall 1.4% to pre-Iran conflict levels, extending a four-week decline amid broader market concerns.
West Texas Intermediate crude futures fell 1.4% to $67.62 a barrel mid-Thursday, marking their lowest level since February 27. The decline extends a four-week losing streak as prices retreat ahead of geopolitical tensions earlier this year.
Prior to the drop, WTI had traded above $80 in early April, supported by supply risks tied to U.S.-Israeli actions against Iran. Consensus estimates had anticipated a pullback but not to pre-conflict lows, with Brent futures also under pressure.
Market reaction remains cautious as traders assess demand outlooks and supply stability amid ongoing macroeconomic uncertainties.