WTI Crude Oil Retreats After Touching Six-Month Highs

WTI crude oil prices fell by 0.68% to trade around $65.95 per barrel, retreating after hitting a six-month high of $67.23 on Monday. This downward move follows a period of strong bullish momentum driven by global supply disruption fears and geopolitical uncertainties. Despite reaching the late February peak, selling pressure emerged as investors locked in profits near key resistance levels. Market participants are now evaluating whether this decline represents a temporary technical correction or the beginning of a broader trend reversal. The energy market remains highly sensitive to news affecting global production and distribution, which continues to influence commodity-linked currencies like the Canadian Dollar (CAD).