West Texas Intermediate (WTI) crude prices dropped to nearly $74 per barrel as former President Donald Trump ramped up pressure on OPEC to reduce oil costs. The decline reflects growing concerns over the potential impact of geopolitical interventions on the oil market.
Trump’s statement urging the oil cartel to “bring prices down” sparked immediate reactions in the energy sector, fueling volatility. The pressure comes amid already heightened market dynamics, with OPEC’s production cuts tightening supply while global demand faces headwinds.
Investors now await OPEC’s response, as the group’s strategy to balance the market may be at odds with external calls for lower prices. WTI’s sharp fall underscores uncertainty in the energy market, with traders watching for further developments that could influence the outlook.
