CommoditiesMediumUpdated•Originally published 24 February 2026•Updated 24 February 2026•
1 min read
WTI Crude Oil Retreats After Touching Six-Month Highs
Key Facts
1WTI is trading near $66.80, approaching a six-month high of $67.23 reached on February 23.
2Oil prices extended gains for the second successive session during Asian hours on Tuesday.
3Fears of supply disruptions are the primary driver behind the current price surge.
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).