WTI crude oil futures are settling at $91.76. That's down $1.90 or -2.03%.
The high price for the day reached $93.34. The low extended to $90.64.
The April contract, which is trading at a discount to the March contract is trading at $89.91. It settled at $90.04 on the day, down -$1.79. The high reached $91.51. The low was at $88.83.
Yesterday, the inventory data showed a surprise build in inventories (+1.1M vs -2.2M draw expected). In addition, there was increased hopes for a resolution to Iran nuclear talks which would open up a new source of supply.
Against those developments is the tension on the Ukraine border is also in play with a war, hurting supply.