Will WTI Crude Oil (WTI) hit $75 in August?

The forecast is likely yes with meaningful uncertainty because WTI futures already printed session lows near 74.24 and 74.57 on August 5 and 6, clearly under the 75 threshold, before rebounding.

WTI crude futures recorded session lows of 74.24 on August 5 and 74.57 on August 6, both well below the 75 level required for a downward hit. By August 7 market reports explicitly noted prices slipping under 75, and by August 10 the contract had rebounded to settle near 78 and trade around 79.59 with a session low near 77.79. This rebound does not erase the earlier breach. The resolution rules ask whether any 1-minute candle during an August trading session reached or went below 75; the historical price data and settlement reports indicate that happened. Residual uncertainty comes from the lack of direct Pyth 1-minute candle verification in the available records, potential contract-roll effects that could shift which contract is active, and the possibility that official CME backup figures differ. Meanwhile, geopolitical supply risks—including strikes near Hormuz and Saudi facilities—remain present, supporting the chance of renewed downward pressure. Given that the dip has already occurred within the window and the month continues, the outcome is likely yes, though verification gaps and structural market mechanics leave meaningful uncertainty.