WTI Crude Oil futures hit three-month low on ceasefire.

WTI Crude Oil futures experienced significant downward pressure, sliding approximately 5% to trade near the 80.50 level, marking a fresh three-month low for the front-month contract. This represents the third consecutive negative session for the energy complex, driven primarily by reports of an extended ceasefire in the Middle East and an improving diplomatic tone. The technical posture has shifted firmly to the downside with a clear pattern of lower highs and lower lows emerging throughout June, reflecting levels not seen since the early stages of the regional conflict in March. The weakness extended across the broader energy complex, putting heating oil and RBOB gasoline futures under similar selling pressure as the market re-prices geopolitical risk.