Home » Crude Price » WTI Crude Oil Futures Trade to New Session Lows and Lowest Level Since February 12

WTI Crude Oil Futures Trade to New Session Lows and Lowest Level Since February 12

………..Next target comes in at $57.56……….
The price of crude oil has extended to new session lows in the last few minutes of trading. The price has moved to a low of $57.88. That run took the price below the low from last week at $58.28. It also has pushed the price to the lowest level since February 12, 2021.

The next target would be the 61.8% retracement of the move up from the January 22 swing low. That level comes in at $57.56. The February 12 low bottomed at $57.06 and be a another downside target.

With concerns on inflation, the rotation down in crude oil prices over the last 12 or so trading days is a welcome relief. The high price peaked on March 8 at $67.79. The move lower today has pushed the price now down 14.5% from that high. The price is still up some 21% from the January 4th low, but it could have been much worse.

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