WTI crude oil fell for four consecutive days like a market "outcast", but there still seems to be a lot of support on the fundamentals, and there are upside risks in the short term.
WTI crude oil fell 2% in the day to $77.48/barrel. Brent crude oil fell back below $80/barrel, down 1.92% in the day.
International oil prices continued to rise, with WTI crude oil rising more than 3% and Brent crude oil rising 2.4% to $79.25/barrel and $81.65/barrel, respectively.
EIA Short-Term Energy Outlook Report: WTI crude oil price is expected to be $70.31/barrel in 2025, compared with previous expectations of $69.12/barrel. Brent crude oil price is expected to be $74.31/barrel in 2025, compared with previous expectations of $73.58/barrel.
WTI crude oil futures rose 3.00% during the day and are now trading at $76.14/barrel.
WTI crude oil rose more than 1.00% in the day, now trading at $73.53/barrel. Brent crude oil rose 1.00% in the day, now trading at $76.67/barrel.
Citi raised its forecast for the average price of WTI crude oil in Quarter 1 to $67/barrel in 2025, and raised its forecast for the average price of Brent crude oil from $65/barrel to $71/barrel.