{
  "id": 8859198,
  "title": "WTI Price Forecast: Drops to over one-week low, below $94.00 but bullish bias stays intact",
  "url": "https://urgent.news/2026/09/21/wti-price-forecast-drops-to-over-one-week-low-below-94-00-but-bullish",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-21T05:56:59.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/wti-price-forecast-drops-to-over-one-week-low-below-9400-but-bullish-bias-stays-intact-202609210556"
  },
  "original_language": "en",
  "account": "West Texas Intermediate (WTI) crude oil prices have plummeted to an over one-week low, trading just below the $94.00 mark, according to the latest market data. The decline comes after a modest opening in the $96.55-$96.60 range at the beginning of the week, leading to a nearly 1.50% drop in value for the day. Saudi Arabia has stated that it anticipates the East-West pipeline to resume operations at around half capacity following a drone attack that temporarily shut down the facility. Additionally, a rebound in shipments originating from Saudi Arabia is alleviating supply concerns and contributing to bearish pressure on crude oil prices. However, the geopolitical risk premium remains elevated due to ongoing fighting between the Iran-backed Houthi group in Yemen and Saudi Arabia, which is expected to hinder further price declines. From a technical standpoint, crude oil prices are currently supported by a bullish bias above the 100-day Simple Moving Average (SMA) at $85.14. Furthermore, the 38.2% Fibonacci retracement level of the August-September upswing, near $91.13, further reinforces the recent advance. The Relative Strength Index (RSI) stands at 56.0, indicating moderate positive momentum, while the Moving Average Convergence Divergence (MACD) has shifted slightly negative, suggesting a maturing uptrend. On the downside, key support levels include the 38.2% Fibonacci retracement at $91.13, the 50.0% level near $87.80, and the 61.8% retracement at $84.47. The 100-day SMA around $85.14 further strengthens this broader demand zone during price pullbacks. On the upside, immediate resistance is observed at the 23.6% Fibonacci retracement level at $95.25. A sustained breach above this barrier would be interpreted as a bullish signal, potentially initiating a move towards revisiting the recent swing high at $101.91.",
  "summary": "West Texas Intermediate (WTI) – the benchmark US Crude Oil price – turns lower for the fourth straight day following a modest gap-up open to the $96.55-$96.60 region and drops to an over one-week low during the Asian session on Monday.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "AUD/USD Price Forecast: Holds comfortably above 0.7100 as bulls await Trump-Xi meeting",
        "url": "https://urgent.news/2026/09/21/aud-usd-price-forecast-holds-comfortably-above-0-7100-as-bulls-await",
        "published": "2026-09-21T03:09:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}