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Crude Oil Prices Today: Brent, WTI Fall as Hormuz Hopes Drive Sell-Off
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Coinpaper
Crude oil prices extended their decline on Aug. 5 as traders reduced the geopolitical risk premium tied to disrupted shipping through the Strait of Hormuz.
Why Are Crude Oil Prices Falling Today?
WTI Crude Oil Tests $72.70 SupportThe four-hour WTI chart shows strengthening bearish momentum after oil broke below the important $78.10 level.
WTI Support.
Brent Backwardation.