WTI crude oil prices retreat 2.25% to $99.80 as the commodity struggles to maintain gains above the $104 resistance level established late last week.
WTI crude oil is experiencing a downward correction, falling 2.25% to trade near $99.80 during Monday's European session. This decline follows a failed attempt to maintain momentum above the five-month high of $104.03 reached on the previous Friday.
WTI is currently in a correction phase, down 2.25% to approximately $99.80.
The asset reached a five-month high of $104.03 on the previous Friday.
West Texas Intermediate crude oil futures fell 2.25% to $99.80 during Monday's European session. The decline marks an extension of a correction phase following the commodity's inability to sustain momentum above the five-month high of $104.03 reached last Friday.
The price is correcting lower after failing to sustain a rally above the $104.03 resistance level, which was a five-month high reached on Friday.