WTI Crude Faces Heavy Sell‑Off as Traders Short Near Resistance

At 4:00 PM GMT on October 16, WTI crude oil traded at $97.24, a 0.75 % decline from the previous close. The benchmark Brent crude fell 0.54 % to $105.35. Gold was up 0.27 % at $4,181.92, while silver rose 1.19 % to $57.84. Copper gained 0.85 % at $6.61, aluminum edged up 0.78 % to $3,008.35, and natural gas slipped 1.61 % to $3.18 per MMBtu. Market sentiment for WTI has turned sharply bearish, with traders piling on short positions as the price approached the key resistance level near $97.50.