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WTI crude oil is currently trading at $68.84, experiencing a drop of -$0.70 or -0.99%. Earlier in the day, its value reached as low as $67.35, which is the week’s lowest point. At this point, the price tested the 200-week moving average, which is a statistical tool that smooths out short-term data changes and highlights long-term trends. When the price hit $67.38, which is marked by a green line on the chart below, this is the point when the term was read.

The maximum price of crude oil for the day was $69.65, while for the trading week, the price has decreased by 4.27%, marking the biggest drop since May 1, 2023.

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