Wti futures price rose to $79

WTI futures price rose to $79.30 in intraday moves after strong export figures from U.S. Gulf ports. Technicians flag the $79.40-$79.80 zone as micro resistance, with breakout potential on higher-than-average volume. The soft commodities posted across-the-board declines, with cocoa futures leading on the downside experiencing a 12.46% price plunge. World sugar, Arabica coffee, cotton, and frozen concentrated orange juice futures declined. However, coffee, cocoa, and OJ prices remain elevated, given explosive price action over the past months. Cotton and sugar have lagged the sector, and prices remained under pressure in September. Think of oil investing like using a power tool. It can do the job, but it demands care. Oil traders place particular weight on settlement prices, which are the official closing levels set at the end of each trading day. Think of it as the “final score” for oil markets: The number that determines how contracts are valued and how much traders make or lose. For traders, the daily settlement is key, as it sets contract values and trading tallies. WTI futures price edged lower to $78.15, driven by a correction in broader commodity indices. Chart-based traders point to Fib retracement levels around $77.60 as possible rebound zones.