“WTI crude oil is taking some profit this morning but not before two straight strong sessions took values to close over the USD 80 per barrel mark yesterday for the first time since early November.”

When someone mentions that WTI (West Texas Intermediate) crude oil is “taking some profit,” they're likely referring to a situation where the price of WTI crude oil is experiencing a decrease after a period of gains. Here's an explanation of why this might occur:

Overall, when someone mentions that WTI crude oil is “taking some profit,” it means that the price is currently declining after a period of gains, likely due to a combination of factors such as market sentiment, technical analysis, profit-taking by investors, economic data, and global events.

The phrase “taking some profit” is a term commonly used in financial markets, including commodities trading like crude oil. It refers to the action of selling an asset that has increased in value in order to realize gains or profits. In the context of WTI crude oil, if traders or investors have purchased oil contracts at a lower price and the price has risen significantly, they may decide to sell some or all of their holdings to lock in profits. This act of selling to capture gains is often referred to as “taking profit.” It's a strategic move made by investors to capitalize on the price appreciation of the asset before the market conditions potentially change and cause the price to decline.