On June 10, the EIA raised its 2026 WTI crude oil price forecast from $85.68 to $88.32 per barrel, and also adjusted the Brent forecast upward. However, on that same day, WTI futures dropped to around $86.747, a nearly 5% decline in just one day.
In other words, the long-term oil price looks pricier on paper, while the short-term price is getting heavily discounted. Meanwhile, the US stock market saw the S&P 500 drop over 2%, with AMD falling more than 10% and Intel down 9.5%. On trade.xyz, SK Hynix and Samsung Electronics also pulled back about 10.85% and 9.4% from their highs, respectively.
In the crypto market, there was about $368 million in liquidations over the past 24 hours, with around $284 million coming from long positions, making up over 70% — a classic case of "liquidating the long leverage first."
Putting it all together, this seems more like a cross-asset risk deleveraging: institutions may have an optimistic outlook, but traders are signaling with their actual positions. What remains to be seen is whether macro data and geopolitical situations will align with the EIA's optimism, or if they will force those expectations to be revised downward.
In other words, the long-term oil price looks pricier on paper, while the short-term price is getting heavily discounted. Meanwhile, the US stock market saw the S&P 500 drop over 2%, with AMD falling more than 10% and Intel down 9.5%. On trade.xyz, SK Hynix and Samsung Electronics also pulled back about 10.85% and 9.4% from their highs, respectively.
In the crypto market, there was about $368 million in liquidations over the past 24 hours, with around $284 million coming from long positions, making up over 70% — a classic case of "liquidating the long leverage first."
Putting it all together, this seems more like a cross-asset risk deleveraging: institutions may have an optimistic outlook, but traders are signaling with their actual positions. What remains to be seen is whether macro data and geopolitical situations will align with the EIA's optimism, or if they will force those expectations to be revised downward.