Brent, WTI Extend Market Losses
📉 Crude Oil Prices Decline at European Market Open 🗓 Date: Wednesday, August 27, 2025 | Source: FXStreet Insights
West Texas Intermediate (WTI) crude oil prices moved lower in early Wednesday European trading. The U.S. benchmark slipped modestly to $63.00 per barrel, compared with Tuesday’s close of $63.16. While the drop is limited, it reflects ongoing selling pressure in the energy market after recent gains.
On the global stage, Brent crude also mirrored WTI’s downward trend. Brent opened today’s session at $66.58 per barrel, down from the prior day’s close at $66.74. The simultaneous declines in these two key benchmarks signal investor caution ahead of major economic data releases and geopolitical developments.
This early-session pullback may stem from profit-taking by short-term traders, concerns over global demand prospects, and recent volatility in the U.S. dollar. Investors are now awaiting U.S. macroeconomic data and upcoming OPEC+ meetings, which could help set the tone for the next price direction.
From a technical perspective, the $63.00 level serves as a key psychological support for WTI. A sustained break below it could pave the way toward the $62.20 area. On the upside, immediate resistance is seen near $63.80; a move above this could open the door for a retest of the $64.00 handle.