WTI crude oil futures settled at $60.07, down $2.28 or 3.66% on the day. Price action was volatile, with a session low of $58.76 and a high of $63.34. The market continues to digest yesterday’s sharp move lower, which saw crude fall to $55.15 — the lowest level since February 2021 — before rebounding.

Today’s high tested the lower end of a key swing area between $63.61 and $65.29 but failed to break through. Just above that, the 38.2% retracement of the 2025 high-to-low move comes in near $64.92 — another major upside target that bulls need to reclaim to regain firmer control.

For now, sellers remain in charge below that resistance band, while a move above $64.92 would mark a meaningful shift in momentum.