Crude oil prices are experiencing a significant decline, with West Texas Intermediate (WTI) futures falling to their lowest levels since January, currently trading below $72 per barrel. Over the past six weeks, crude prices have dropped more than $11 per barrel, reflecting a broader trend of decreasing oil prices amid concerns over weak global demand. Recent data indicates that WTI has decreased by 7.2% over the last 30 days, driven by weak refining margins and ongoing geopolitical tensions, particularly in the Middle East. Analysts suggest that the market is facing a bearish outlook, with expectations of lower oil demand growth due to a sluggish recovery in China and potential weaknesses in the U.S. economy. Gasoline prices have also tumbled to their lowest seasonal levels in two years, providing some relief for consumers. Despite the current downturn, some analysts believe there may be short-term buying opportunities as the market adjusts to these conditions.