Back

WTI Crude Oil Falls Below $90 a Barrel for First Time Since April 21

According to Gate data, West Texas Intermediate crude slid as much as 13.17% intraday, dropping from earlier losses near $104 to below $90 per barrel for the first time since April 21.

GT

Fact Check
The primary source, Odaily (WTI 原油日内跌 2.00%，现报 104.09 美元/桶), directly and precisely confirms both the 2.00% intraday decline and the $104.09/barrel price, citing Gate exchange data, published on 2026-05-05 — matching the claim exactly. Bloomingbit independently corroborates the same figure. A subsequent Odaily flash from later the same day shows WTI continued declining past $104, consistent with the earlier snapshot. The only caveat is that the underlying data source is Gate (a crypto-adjacent exchange platform) rather than a traditional commodity exchange like NYMEX/CME, which introduces a minor uncertainty about data precision. However, the consistency across multiple independent outlets and the plausible price level for WTI in early May 2026 (consistent with the ~$100-$107 range seen in broader market data) support the claim as likely true.
    Reference: 123
Summary

According to Gate data, West Texas Intermediate crude oil extended a sharp intraday sell-off from an earlier 2.00% decline at $104.09 per barrel to 7.37% below $96, then 10.00% at $93.25, and later 13.17% as it fell below $90 per barrel. The move marked the first time WTI traded under $90 since April 21. While no specific catalyst was provided, the decline represented a significant one-day move in a key U.S. energy benchmark that market participants monitor for its influence on inflation expectations and broader risk sentiment.

Terms & Concepts
  • WTI crude oil: West Texas Intermediate, a major U.S. benchmark grade of crude oil widely used to price energy markets.
  • Intraday: Price movement that occurs within a single trading day rather than over a longer period.
  • Risk sentiment: A market concept describing investors’ willingness to hold higher-volatility assets, including cryptocurrencies, during changing macro conditions.