Crude Oil ($CRUDE) Commodity Forecast: Down 5.1% Today

What is Crude Oil?

Crude Oil, specifically WTI (West Texas Intermediate), is a key global commodity used as a benchmark in oil pricing. The market for crude oil is influenced by a multitude of factors including geopolitical tensions, supply and demand dynamics, and global economic conditions.

Why is Crude Oil going down?

CRUDE commodity is down 5.1% on Oct 10, 2025 20:56

• The bearish movement in Crude Oil today was primarily driven by renewed US-China trade tensions, as President Trump's threats of increased tariffs and uncertainty surrounding the upcoming meeting with President Xi Jinping raised concerns about a potential slowdown in global economic growth and oil demand.
• Additionally, the market was weighed down by rising global supply levels, including higher output from OPEC+ and non-OPEC producers, leading to fears of a supply surplus.
• Easing tensions in the Middle East, particularly progress towards a Gaza ceasefire, removed a key risk premium from oil prices, further contributing to the downward pressure on Crude Oil.
• The combination of these factors, along with increased short positions and risk aversion among investors, resulted in a significant drop in WTI crude oil prices, with analysts suggesting further volatility near the $60 level in the absence of a supportive catalyst for buying.

CRUDE Price Chart

CRUDE Technical Analysis

CRUDE News

WTI Crude Drops Over 4% on Trade Tensions

WTI crude oil futures slid 4.2% to settle at $58.2 a barrel on Friday, the lowest since May 7, as renewed US-China trade tensions rattled markets. President Trump threatened a “massive increase” in tariffs on Chinese goods and hinted at canceling his upcoming meeting with President Xi Jinping, raising concerns that a trade war could slow global economic growth and curb oil demand. The decline was compounded by ongoing bearish sentiment from rising global supply, including higher output from OPEC+ and non-OPEC producers. Easing tensions in the Middle East, including progress toward a Gaza ceasefire, also removed a key risk premium from prices. Traders accelerated selling, with short positions in WTI surging, while risk-averse investors pulled back from equities, amplifying downward pressure. Analysts noted that without a catalyst to support buying, crude could see further volatility near the $60 level due to concentrated options hedging.

Crude Oil WTI is down by 4.03%

Crude Oil WTI decreased 4.03% to 59.043 USD/Bbl

Oil Falls to 7-Month Low

WTI crude oil futures fell over 3.5% to $59.40 a barrel on Friday, the lowest since May 8, as easing Middle East tensions and a looming global supply surplus weighed on the market. Israel approved a framework for Hamas to release hostages in exchange for prisoners, marking a major step toward a peace deal in Gaza, a region that produces about a third of the world’s crude. Meanwhile, markets anticipate a supply surplus driven by rising output both within and outside OPEC+, which recently increased production quotas to reclaim market share. Additionally, President Donald Trump’s threat of a “massive increase” in tariffs on Chinese goods rekindled trade war concerns. Prices were partially supported by US sanctions on a crude-import terminal and a private Chinese refinery involved in Iranian oil trade, while China retaliated by imposing port fees on American ships, potentially boosting freight costs.

Crude Oil WTI traded below 60 USD/Bbl

Crude Oil WTI decreased below 60, according to trading on a contract for difference (CFD).

Oil Holds Losses

WTI crude oil futures hovered around $61.5 per barrel on Friday, holding losses from the previous session as geopolitical risk premiums eased amid Middle East developments. Israel and Hamas have recently agreed on the first phase of a ceasefire plan, a major breakthrough in US and Qatari mediated talks aimed at ending the two-year conflict. Nevertheless, oil prices remained on track for a weekly gain, supported by news that the US sanctioned over 50 individuals, firms, and vessels tied to Iran’s energy trade, including a key import terminal and a Chinese refinery. US crude inventories also rose for a second consecutive week but stayed near seasonal lows, while Cushing and refined product stocks fell, according to EIA data. Early in the week, OPEC+ opted for a restrained production increase, the lowest among options discussed, falling short of market expectations for a more aggressive hike.

Trending Today

Gold ($XAU) Commodity Forecast: Down 5.4% Today

Zillow Group Inc. ($Z) Stock Forecast: Up 5.1% Today

Applovin Corporation ($APP) Stock Forecast: Down 5.1% Today

Warner Bros. Discovery, Inc. ($WBD) Stock Forecast: Up 11.2% Today

Beyond Meat Inc. ($BYND) Stock Forecast: Up 127.8% Today

AMC Entertainment Holdings Inc. Class A ($AMC) Stock Forecast: Up 5.3% Today

Cleveland-Cliffs Inc. ($CLF) Stock Forecast: Down 15.4% Today

Halliburton Company ($HAL) Stock Forecast: Up 11.3% Today

Newmont Mining Corporation ($NEM) Stock Forecast: Down 8.7% Today

RTX Corporation ($RTX) Stock Forecast: Up 7.7% Today

Crude Oil Price History

29.06.2025 - CRUDE Commodity was up 3.9%

• The surge in crude oil prices is linked to President Trump's recent announcement of a shortened deadline for Russia to secure a peace agreement with Ukraine, leading to apprehensions regarding a potential constraint in global oil availability.
• Positive sentiment surrounding the US-EU trade agreement and prospects of trade deals with Japan and other nations also contributed to the price upsurge.
• Additionally, market optimism was fueled by a more substantial decline in crude inventories than anticipated and indications of advancements in US trade discussions, alleviating concerns regarding future oil demand.
• Notwithstanding these favorable developments, underlying worries persist about long-term factors such as apprehensions about decelerated global growth due to trade uncertainties and the likelihood of oversupply if OPEC+ proceeds with raising its production target.

17.05.2025 - CRUDE Commodity was up 5.1%

• The bullish movement in Crude Oil prices today was primarily driven by escalating geopolitical tensions between Israel and Iran, leading to concerns about potential disruptions in energy flows and trade routes.
• US President Donald Trump's call for the evacuation of Tehran and Israel's intensified airstrikes on Iran's capital contributed to market volatility, pushing oil prices higher.
• Signals of de-escalation from Iran and a willingness to resume nuclear negotiations helped ease market concerns, leading to a surge in oil prices as investors unwound risk-off positions.
• The fluctuating oil prices reflect the market's sensitivity to geopolitical developments and the potential impact on global oil supply chains, particularly through critical chokepoints like the Strait of Hormuz.

23.05.2025 - CRUDE Commodity was down 13.7%

• A 7% drop in Crude Oil prices followed Iran's missile attack on a US airbase in Qatar, which resulted in no casualties and relieved immediate escalation concerns.
• The market showed confidence in oil supply continuity as tankers proceeded through the Strait of Hormuz, a critical point for global oil shipment.
• President Trump's decision to hold off on potential US military action against Iran fostered hopes for diplomatic talks, contributing to the negative market sentiment for oil.
• Even with ongoing geopolitical turmoil and increasing conflicts between Israel and Iran, reports of Iran sustaining high levels of crude exports further pressured oil prices downward.

23.05.2025 - CRUDE Commodity was down 10.2%

• The bearish movement in Crude Oil prices today can be attributed to the softening concerns regarding potential supply disruptions in the Middle East, particularly around the Strait of Hormuz, as Iran refrains from targeting oil flows in retaliation to US strikes.
• Despite escalating tensions between Iran, Israel, and the US, the market reassessed the immediate risk of supply disruptions, leading to a sharp decline in oil prices.
• Additionally, the market may have reacted to reports of Iran maintaining its crude exports at high levels, along with a sharper-than-expected drop in US crude inventories, indicating a potential oversupply situation.
• Overall, the bearish movement in Crude Oil today reflects a combination of geopolitical developments, supply dynamics, and market sentiment adjustments, leading to a notable shift in prices.

17.05.2025 - CRUDE Commodity was up 5.1%

• The bullish movement in Crude Oil is linked to the ongoing conflict between Israel and Iran, specifically Israel's strikes on Iran's assets, raising concerns about a broader regional war and potential supply disruptions.
• Interest from Iran in de-escalating tensions and resuming nuclear negotiations has led to fluctuations in oil prices, with market sentiment changing based on the perceived likelihood of a prolonged conflict.
• The Strait of Hormuz, a key chokepoint for global oil trade, remains a significant concern. Any threats of closure by Iran could pose a risk to oil prices and market stability.
• Geopolitical uncertainties, as well as factors like production quotas by OPEC+ and potential tariffs from the U.S., are contributing to the volatility in oil prices as traders navigate through the complexities of global events impacting the energy market.

23.05.2025 - CRUDE Commodity was down 6.4%

• The decline in Crude Oil today can be linked to:
• President Trump's choice to delay any likely US military action against Iran, lessening immediate worries of supply disruptions in the Middle East.
• Intensified strikes by Israel on key targets in Iran, heightening tensions without an immediate outbreak of conflict.
• Profit-taking by investors as the immediate supply shock risk decreased with the postponement of a US airstrike on Iran.
• Indeterminate economic policies in the US pushing investors away from the dollar, bolstering commodities like oil traded in that currency.

16.05.2025 - CRUDE Commodity was down 5.8%

• The bearish movement in Crude Oil prices today can be attributed to the easing of tensions between Israel and Iran, as investors scaled back risk-off trades amid signs that the conflict may not escalate further.
• The belief that the tensions are likely to remain contained, coupled with Iran's oil infrastructure remaining untouched, contributed to the market retreat.
• Despite concerns over potential supply disruptions due to geopolitical risks, the market sentiment shifted towards a more stable outlook, leading to the bearish movement in Crude Oil prices.
• It is essential for traders to monitor geopolitical developments closely, as any escalation in tensions or disruptions to key oil supply routes like the Strait of Hormuz could quickly reverse the current market trend.

02.08.2025 - CRUDE Commodity was down 0.2%

• The bearish movement in Crude Oil prices today can be attributed to a combination of factors:
• Weaker US demand and concerns over the end of the summer driving season have weighed on prices, indicating a potential slowdown in consumption.
• Reports of a potential ceasefire in Ukraine have eased tensions and expectations of supply disruptions, leading to a downward pressure on prices.
• Rising output from OPEC+ and other producers, along with the possibility of a global supply surplus by year-end, have added to the bearish sentiment in the market.
• Geopolitical factors, such as India's continued purchases of Russian oil despite US tariff threats, have also contributed to the overall uncertainty and downward pressure on prices.

24.05.2025 - CRUDE Commodity was down 11.3%

• The ceasefire announcement between Israel and Iran by President Trump led to a drop in oil prices, as fears of supply disruptions in the Middle East eased.
• The lack of casualties in Iran's missile strike on a US airbase in Qatar contributed to the bearish movement, signaling a potential de-escalation in Middle East tensions.
• Despite the ongoing hostilities between Israel and Iran, reports of Iran maintaining crude exports at high levels added pressure on oil prices.
• The market's reaction to recent developments suggests that investors are closely monitoring geopolitical dynamics in the region, balancing concerns of supply disruptions with signs of potential peace negotiations.

24.05.2025 - CRUDE Commodity was down 10.6%

• Crude oil experienced a bearish movement today, with prices dropping significantly.
• The market movement was primarily driven by the announcement of a ceasefire between Israel and Iran, easing concerns over potential oil supply disruptions in the Middle East.
• The de-escalation of tensions following Iran's missile strike on a US airbase in Qatar, which resulted in no casualties, contributed to the downward pressure on oil prices.
• Despite the temporary relief in the market, the situation remains fragile, with uncertainties surrounding the ceasefire and the possibility of Iran attempting to close the vital chokepoint of the Strait of Hormuz.

10.09.2025 - CRUDE Commodity was down 5.0%

• The drop in Crude Oil WTI below $60 per barrel can be linked to several reasons:
• Geopolitical events, including the agreement on a ceasefire plan between Israel and Hamas in the Middle East, have decreased risk premiums in the area.
• OPEC+ chose a cautious approach in raising production, which was below market expectations, causing concerns about possible oversupply in the market.
• The rise in US crude inventories for the second consecutive week, while still close to seasonal lows, has added downward pressure on oil prices.
• Anticipations of ample global supply, with expected record highs in OPEC+ and US crude output, have further subdued the sentiment towards oil prices.

10.09.2025 - CRUDE Commodity was down 5.1%

• The bearish movement in Crude Oil today was primarily driven by renewed US-China trade tensions, as President Trump's threats of increased tariffs and uncertainty surrounding the upcoming meeting with President Xi Jinping raised concerns about a potential slowdown in global economic growth and oil demand.
• Additionally, the market was weighed down by rising global supply levels, including higher output from OPEC+ and non-OPEC producers, leading to fears of a supply surplus.
• Easing tensions in the Middle East, particularly progress towards a Gaza ceasefire, removed a key risk premium from oil prices, further contributing to the downward pressure on Crude Oil.
• The combination of these factors, along with increased short positions and risk aversion among investors, resulted in a significant drop in WTI crude oil prices, with analysts suggesting further volatility near the $60 level in the absence of a supportive catalyst for buying.