West Texas Intermediate (WTI) crude oil is currently trading at approximately $58.80, reflecting a 0.70% increase on Thursday. This modest recovery comes after two tumultuous days of trading, which included a significant drop of over 4% on Wednesday. The recent volatility has been largely attributed to ongoing concerns regarding a global oversupply of oil, leading to uncertainty in the market.
As traders monitor the situation, the surge in EIA inventory figures has further heightened fears of a supply glut. The exchange rate for WTI against the USD remains under scrutiny, with investors weighing the implications of excess supply on future pricing. The fluctuations in crude oil prices continue to impact currency pairs, particularly those involving the USD and EUR, as market participants adjust their strategies in response to these developments.
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Data Source: FX Killer Analysis Team Updated: 2025-11-13 17:43
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.