WTI Crude Oil Extends Weekly Pullback to Trade at About $95.90

By Nicholas Kitonyi April 10, 2026, 9:00 pm • Posted in Commodities

On Friday, the WTI crude oil price extended this week’s pullback from Tuesday’s highs of about $117.50 to trade at about $95.90. The oil price trades within an ascending channel formation in the 60-minute chart.

The light crude oil price has now fallen to trade a few levels below the 100-hour moving average line. However, it still has some room left to run before reaching the oversold levels of the 14-hour RSI.

WTI Crude Oil Fundamentals Overview

From a fundamental perspective, the light crude oil price trades during a relatively busy period in the US market. On Friday, the US consumer price index for March rose to 0.9% (MoM), up from 0.3% in the preceding month, as expected. The (YoY) equivalent was also in line with the estimate of 3.3%, up from 2.4% in February.

The consumer price index ex-food and energy fell short of the forecasted (MoM) change of 0.3%, with a change of 0.2%, unchanged from the previous period, while the (YoY) equivalent missed 2.7%, with a change of 2.6%, up from 2.5%.

Elsewhere, factory orders for February outperformed the expected (MoM) change of -0.2%, with a change of 0%. The preliminary Michigan Consumer Price Index for April fell short of 52, with 47.6, down from 53.3.

In the latest US crude inventories, the API weekly crude oil stock for last week fell to 3.719 million, down from the previous week’s 10.263 million. On the other hand, the EIA crude oil stocks change for last week missed the expected change of 0.7 million, with a change of 3.081 million, down from the preceding week’s equivalent of 5.451 million.

WTI Crude Oil Technical Analysis (the 60-min Chart)

Technically, the light crude oil price trades within an ascending channel formation in the 60-minute chart. However, the 14-hour RSI has recently pulled back to avoid rallying into overbought conditions.

Therefore, the bears will look to stretch the latest pullback towards $89.59 or lower to $82.53. On the other hand, the bulls will look to pounce on profits at about $102.38 or higher at $109.10.

WTI Crude Oil Technical Analysis (the Daily Chart)

In the daily chart, the light crude oil price trades within an ascending channel formation. However, the 14-day RSI has recently pulled back to recover from overbought conditions.

Therefore, the bears will look to stretch the latest pullback towards $78.48 or lower to $62.08. On the other hand, the bulls will look to pounce on rebounds at about $114.71 or higher at $130.43.