SunSirs: International Crude Oil Futures Close Sharply Lower on July 9
July 10 2026 14:03:50 SunSirs (Selena)
International crude oil futures closed lower on July 9. The settlement price for the August contract of U.S. WTI crude oil fell by $1.44 (2.0%) to $72.08 per barrel. The settlement price for the September contract of Brent crude oil dropped by $1.72 (2.2%) to $76.30 per barrel.
With international crude oil futures closing sharply lower—driven by a 2.0% drop in WTI (August contract) and a 2.2% drop in Brent (September contract)—bearish market sentiment intensified, exerting significant downward pressure on both spot and futures prices.
As a direct downstream refined product of crude oil, gasoline prices faced downward pressure due to the decline in international crude oil prices, which weakened cost support.
Diesel is also a downstream refined product; the drop in crude oil costs suppressed product price trends, exerting downward pressure on diesel prices.
Crude oil is the primary raw material for asphalt production; the decline in international crude oil prices weakened cost support, exerting downward pressure on asphalt prices.
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