Crude oil futures settled at $89.31

Crude oil futures settled at $89.31 per barrel for WTI, down $2.88, or 3.12%, after trading between $87.68 and $92.83. The decline came despite a weekly gain of $7.51, or 9.17%, highlighting how sharp swings have remained in the market. Technically, buyers pushed prices toward $93.50 on Thursday, briefly exceeding the 50% retracement level of $93.26, but the move failed and sellers took control. The session’s rally topped at $92.83, about 43 cents below that resistance, and price reversed lower. The 100-day moving average at $89.90 also acted as a reference point: WTI closed above it Thursday, but fell back below it today. Brent settled below $100 at $96.78, down $3.91, or 3.88%.