Key Takeaways:
- WTI crude fell 3.51% on July 26, the session's largest intraday decline
- Prices closed at $84.20 after touching a low of $83.10
- The session ranged from $86.20 to $83.10 with volume of 14,846 contracts
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WTI crude falls 3.5% in session's biggest intraday decline
WTI crude oil posted its largest intraday decline of the July 26 session, dropping 3.51% to settle at $84.20 a barrel.
WTI crude oil tumbled 3.51% on July 26, the session's steepest intraday decline, closing at $84.20 after touching a low of $83.10 from an open of $86.12.
The selloff represented the largest intraday decline for the session, with prices falling from an open of $86.12 to a low of $83.10 before recovering partially, exchange data show.
The session ranged from a high of $86.20 to a low of $83.10, a $3.10 band. Volume reached 14,846 contracts. The close at $84.20 represents a 2.2% decline from the opening price of $86.12.
The decline erased gains from the opening level and pushed WTI toward the $83 support zone. The next major catalyst for crude prices will be the weekly EIA inventory report, with traders watching for signs of shifting supply-demand balances.
The 3.51% decline was the largest intraday drop for WTI crude on July 26. The open at $86.12 was near the session high of $86.20, indicating selling pressure emerged early in the trading session.
The low of $83.10 was reached during the session before prices recovered to close at $84.20. The partial recovery suggests some buying interest emerged near the session lows, though the overall direction remained negative for the session.
This article is for informational purposes only and does not constitute investment advice.
