WTI crude oil futures edged higher on Friday, settling at $90.83 per barrel after gaining 0.34%, or $0.31. The modest advance followed a reported five-session decline of 12.76%, leaving the U.S. benchmark substantially lower for the week. The session’s recovery above $90 offered some near-term stability, although the scale of the weekly retreat highlights the sensitivity of oil prices to changing expectations for supply, demand and geopolitical risk.

Intraday Trading: Prices Recover Above the $90 Threshold

WTI futures opened at $91.20 and initially advanced to an intraday high of $92.53 before retreating to a low of $89.07. Prices subsequently recovered, finishing at $90.83 and moving back above the psychologically significant $90 level. The rebound followed a volatile session in which the benchmark tested prices below that threshold.

Trading volume was reported at 253.86K contracts. While the session’s recovery indicates that buyers emerged after the decline toward $89, one trading session is not sufficient to establish a durable technical floor. The $89.07 low represents the reported intraday minimum, while the $90 level remains a psychological reference point rather than confirmed longer-term support.

Supply Expectations and Demand Concerns Shape the Weekly Decline

The reported 12.76% weekly contraction places renewed attention on the factors influencing crude oil’s supply-demand balance. Changes in geopolitical risk expectations can alter the premium embedded in oil prices, particularly when diplomatic developments affect perceptions of potential disruptions to production or transportation. At the same time, expectations for industrial activity, freight movement and consumer fuel consumption influence the demand outlook.

Domestic inventory data and production trends are also important indicators for the U.S. market. However, attributing the week’s decline specifically to higher inventories, softer manufacturing activity or easing Middle East tensions requires confirmation from relevant economic releases and market reporting. The broader implication is that oil prices remain exposed to shifts in both immediate supply expectations and assessments of global economic momentum.

Currency Movements and Risks for Energy Consumers

WTI is priced in U.S. dollars, making exchange-rate movements relevant to international buyers. For Israeli households and businesses, the local cost of imported energy products can be influenced by both the dollar-denominated crude price and the USD/ILS exchange rate. Consequently, a decline in international oil prices does not necessarily translate into an equivalent reduction in domestic fuel costs.

Supply disruptions, changes in production policy and developments along major maritime routes remain potential sources of renewed price volatility. Conversely, weaker consumption or further inventory growth could add pressure if demand fails to absorb available supply. The interaction between these factors will remain central to the benchmark’s direction.

WTI’s recovery above $90 provides a short-term pause after a sharp weekly decline, but the market has yet to establish whether the latest session marks a sustained stabilization. Further trading around the $89–$90 area, together with confirmed inventory figures, production data and demand indicators, may help clarify whether selling pressure is easing. A sustained recovery would require stronger evidence of demand or tighter supply conditions, while renewed weakness could leave the benchmark vulnerable to another test of its recent lows.