WTI Futures Selloff: Profit-Taking and Soft Demand Weigh on Price
The price of West Texas Intermediate (WTI) futures (USOIL-F) dropped by 2.30% on September 11, a correction that reflects profit-taking and institutional repositioning following a multi-session surge.
Geopolitical tensions and transit security risks had driven up the price earlier, but market participants reassessed prompt physical balance indicators and downstream inventory builds, leading to a pullback.
The latest U.S. Energy Information Administration (EIA) weekly inventory report showed a smaller-than-anticipated draw in commercial crude stocks, alongside unexpected inventory accumulation in gasoline and distillate supplies.
Refined product inventories signaled softening end-user fuel demand, placing downward pressure on refinery crack spreads.