Texas crude fell more than 4% in a session marked by greater stability in maritime traffic and signs of increased global supply
SANTO DOMINGO – The price of West Texas Intermediate (WTI) crude oil fell more than 4% on Wednesday, closing at $70.34 per barrel, its lowest level since the start of the war in the Middle East, on a day marked by the recovery of maritime traffic in the Strait of Hormuz, according to Infobae.
Crude oil fell below the psychological threshold of $70, although it managed to partially recover ground before the close, reflecting the strong volatility that continues to dominate the international energy market.
Market under pressure from increased crude oil flow
According to the EFE, WTI futures registered a drop of $2.87, equivalent to 3.9%, while Brent fell to $73.74 per barrel.
The downward movement was driven by the perception of greater stability in the Strait of Hormuz, one of the most important strategic routes for global oil transport, where the flow of ships has shown signs of normalization after weeks of geopolitical tension.
This increase in maritime traffic has reduced the immediate risk of supply disruptions, putting downward pressure on prices in international markets.
Monthly adjustment and recent behavior
According to data from the PrecioPetróleo Net portal , West Texas Intermediate registered a daily drop of $4.32, equivalent to a decrease of 5.47% compared to the previous session.
In the monthly analysis, crude oil went from an average of $102.13 in the previous month to $89.01 in the present, representing a contraction of 12.85%.
Despite the recent correction, oil maintains a year-on-year growth of 30.57%, which demonstrates the persistent volatility of the global energy market.
Hormuz, geopolitics and market reconfiguration
According to Swissinfo, the behavior of crude oil is closely linked to the evolution of the Strait of Hormuz, where the flow of ships has been gradually recovering after the period of partial blockage generated by tensions in the region.
The partial reopening of this route has alleviated fears of immediate shortages, while reshaping supply expectations in the international energy market.
Political factors and price pressure
The Infobae adds that the drop in oil prices also occurs in a political context in the United States, where the government has questioned why the drop in crude oil prices is not reflected as quickly in fuel prices for consumers.
This situation has led to investigations into large oil companies, adding further pressure to the energy market at a time of global price adjustment.
A market highly sensitive to geopolitics
The Daily Ca, a Canadian news blog, explains that the behavior of oil continues to depend on three key variables: stability in the Middle East, OPEC+ production decisions, and the evolution of global demand.
In this scenario, WTI continues to consolidate itself as one of the main benchmark indicators to measure the health of the world economy, in a context where any geopolitical change causes immediate reactions in prices.
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