West Texas Intermediate (WTI) crude oil prices have pulled back to around $59.60 per barrel during Asian trading on Tuesday, ending a three-day rally. This decline is largely driven by renewed concerns over oversupply in the market, as an ING report suggests a substantial surplus could persist through 2026.
As traders react to these projections, the potential for sanctions to curb production may offer some support for prices, limiting further downside. The market closely monitors the dynamics between supply forecasts and geopolitical factors, as fluctuations in oil prices can significantly impact currency pairs like USD/EUR, affecting broader trading strategies and exchange rate movements.
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Data Source: FX Killer Analysis Team Updated: 2025-11-18 03:45
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.