WTI Crude Dips Below $98 Before Rebounding, Brent Slips to $102.5

Oil prices fluctuated as WTI crude dipped to $97.6 per barrel before recovering, while Brent crude eased to $102.5, both showing notable daily gains.

Summary

On March 9, WTI crude briefly fell to $97.6 per barrel before recovering to $99.4, with its daily gain narrowing to 8.5%. Brent crude dropped to $102.5 per barrel, reducing its gain to 11%. Both oil benchmarks experienced significant volatility within the trading session.

Terms & Concepts
  • WTI crude: West Texas Intermediate, a benchmark grade of U.S. crude oil used in pricing and trading.
  • Brent crude: The main global benchmark for crude oil, representing North Sea production.
  • Daily gain: The percentage increase in the price of an asset within one trading day.