WTI crude fell to its 52-week low of $64.78 per barrel on Sep. 10, 2024. It reached its 52-week high of $91.09 on Oct. 20, 2023. That’s 17.51% higher than the current futures price.

Oil prices fell on Monday, after posting their steepest weekly rise in more than a year last week, as oversupply concerns amid softer demand countered the worries over a wider Middle East conflict disrupting exports in the key oil-producing region.

WTI futures traded at $74.69 per barrel, as of 9 a.m. ET. Year to date, WTI prices are up by 1.70%. Brent futures traded at $78.72/bbl, an increase of 0.87% in the last 24 hours. Year to date, Brent prices are down by 0.

Despite last week's crude oil price spiral, the situation seems to be stabilising with analysts expecting the market to cool off in the coming days. Tensions between Israel and Iran led to a 13 per cent spurt in Brent crude prices in the past seven days,