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WTI drops back from near-$65.00 highs as US crude oil production surges back

Mar 10, 2021 17:31 GMTFXStreet News
WTI has been choppy in recent trade, nearly hitting $65.00, but has recently dropped back to the mid-$63.00s.
Selling has picked up in wake of the latest EIA inventory report that showed US production levels surging back.
Crude oil prices have been choppy over the last few hours and has recently swung back to trade in the red again. Front-month futures contracts for West Texas Intermediary (WTI), the American benchmark for sweet light crude oil, have been capped before the $65.00 level, hit session highs of close to the $65.00 level not long ago, but have since sold off and been pushed back below the $63.50 level, where WTI trades losses of about 0.75% or 50 cents on the day. WTI is now eyeing a move back towards and test of earlier session lows of just above the $63.00 level. ....

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