West Texas Intermediate (WTI) crude oil is trading at approximately $59.00 on Wednesday, reflecting a significant decline of 2.80% for the day. The price is under pressure as traders respond to mixed inventory data from the U.S. Energy Information Administration (EIA) and anticipate the impact of upcoming sanctions on major Russian oil producers. The market's uncertainty is amplified by geopolitical tensions, which are curbing potential price rebounds.
As market participants analyze these factors, the fluctuating inventory levels are causing a tug-of-war between supply concerns and demand forecasts. The recent draw reported by the EIA tempered the earlier inventory build noted by the American Petroleum Institute (API). With these dynamics at play, the WTI/USD exchange rate remains vulnerable, and traders are keenly watching for further developments that could sway market sentiment in the volatile oil sector.
About FX Killer Trader Incubation Program
Want to become a professional trader? FX Killer offers a completely free professional trader training program. We provide systematic courses, practical training, and professional mentorship to help you grow from beginner to full-time trader.
👉 Join Free Training Program | Trading Psychology Assessment
Data Source: FX Killer Analysis Team Updated: 2025-11-19 18:29
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.