International Oil Prices Experience Short-Term Correction

International oil prices have experienced a short-term correction, with US West Texas Intermediate (WTI) and Brent crude both experiencing significant drops.

On May 11, WTI briefly fell below $97 per barrel, while Brent touched an intraday low of $101.03.

The price drop is attributed to profit-taking by investors amid rising volatility, as tensions in the Middle East had driven oil prices upward recently.

If the downward trend in oil prices continues, analysts predict a moderate rebound in the crypto market, but warn that this may be limited by other factors such as gold prices and currency fluctuations.