West Texas Intermediate (WTI) crude oil prices have shown resilience, trading around $59.50 per barrel on Friday, reflecting a 1.60% increase on the day. The price spiked to a daily high of $60.47 following reports of a strike on a Russian oil depot, which has raised concerns over potential supply disruptions amid ongoing geopolitical tensions.
Despite fears of oversupply in the market, the impact of U.S. sanctions on Russian energy exports continues to influence trading dynamics. As WTI prices recover, traders are closely monitoring the evolving situation, which could affect the USD and broader commodities market. The fluctuations in oil prices are likely to reverberate through currency pairs, particularly those involving the USD and EUR, as market participants react to shifting supply fundamentals and regulatory developments.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 14:19
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.