Oil Prices Tumble as Traders Unwind Geopolitical Bets

Crude oil markets reversed sharply lower during the week of April 5 through April 9, 2026, as traders shifted from aggressive risk pricing to rapid liquidation. After surging the previous week on geopolitical tensions, May WTI crude failed to sustain higher levels and entered a wide, volatile range. Prices reached a weekly high of $117.73 before collapsing to a low of $91.05. As of Thursday, crude is trading at $98.39, down $13.15 or -11.79% for the week so far. This sharp reversal follows last week’s breakout rally, where supply fears tied…