Lead
WTI crude oil is trading near a 4.5-year low, with the January 2026 futures contract (CLF26) last seen at $58.01, down 0.01% on the day. Price action briefly tested the $57.99 area, a level watched as near-term support.
Key Developments
- Contract: Crude Oil WTI Jan ’26 (CLF26)
- Last price: $58.01
- Daily change: -0.005 (approximately -0.01%)
- Notable technical marker: $57.99 support line observed on the chart
- Chart timeframe labeling: November 2024 to November 2025
The current pricing places WTI near multi-year lows, underscoring subdued momentum in the energy market. While intraday moves are modest, the proximity to the $58 handle and the 57.99 support level highlights a tight range that traders are monitoring for potential breaks.
Market Context
WTI futures are a benchmark for U.S. crude prices and a key barometer for energy market sentiment. Prices at these levels can influence:
- Fuel costs across transportation and logistics
- Corporate input costs for energy-intensive sectors
- Inflation expectations and consumer spending power
For reference on market structure and contract specifications, see the CME WTI futures overview. Weekly supply data from the U.S. Energy Information Administration (EIA) often serves as a catalyst for short-term price moves.
Technical Notes
- The $57.99 area is in focus as near-term support
- A sustained move below this zone could open the door to further downside, while stabilization above $58 may keep trading range-bound in the short run
Conclusion
With WTI near a 4.5-year low, attention turns to whether the CLF26 contract can hold above $58 and the $57.99 support. Upcoming inventory data and broader macro signals will likely guide the next directional move in crude oil.