WTI crude oil prices bounced back on Thursday, rising by more than 2% to around $71.50 per barrel. This rebound ended a three-day losing streak that had pushed prices down to their lowest level in over three months, according to FX Street.
The price recovery was driven primarily by short covering, as traders moved to close out positions following the recent selloff. This shift helped stabilize the market after a period of sustained declines.
For Japanese investors, the rebound in oil prices may influence energy-related equities and impact the broader commodity market, highlighting the importance of monitoring crude oil trends amid ongoing global economic uncertainties.