WTI crude oil futures settled at $82.61, down $6.70, or 7.50%, on the day. It was the largest one-day decline since April 17, when prices fell 9.86%, as easing geopolitical tensions triggered heavy selling across the energy market.

The drop also pulled WTI back through several widely watched technical levels in a single session, a reminder that crude prices can move quickly when market participants reprice risk. WTI moved under its 100-hour moving average at $87.42, its 200-hour moving average at $84.08, and the 38.2% retracement of the July rally at $83.42. Those breaks shifted the near-term bias more firmly in favor of sellers.

The 200-hour moving average at $84.08 is the key level to watch going forward. A move back above that level, particularly with sustained momentum, would indicate that selling pressure is easing and would shift the outlook toward a more neutral bias. As long as prices remain below it, sellers remain in control.

On the downside, the next technical target is the 50% retracement of the July advance at $80.30. A break below that level would add to downside momentum and open the door to the next major support zone between $77.93 and $79.18. For traders and refiners alike, those levels matter because they help frame whether the pullback remains a technical reset or extends further into the broader summer trading range.