West Texas Intermediate (WTI) crude oil prices remained steady around $84.30 during the Asian trading session on Thursday, marking the third consecutive day of a consolidative price pattern, according to FX Street.
The price action suggests WTI is maintaining its position below the key $85.00 level, with technical analysts noting the importance of the 61.8% Fibonacci retracement level as a potential support area during this period of limited volatility.
For Japanese investors, the stability in crude oil prices comes as a significant factor influencing energy sector equities and the broader commodity-linked FX pairs, especially amid ongoing global supply concerns.