West Texas Intermediate (WTI) crude oil prices continued to decline, trading around $57.80 per barrel during European trading hours on Wednesday. This marks a second consecutive session of losses, with WTI falling 1.70% in the previous day. The downward movement in oil prices is largely attributed to improving prospects for a potential peace agreement between Ukraine and Russia, which could alleviate supply concerns in the market.
As geopolitical tensions ease, traders are reassessing the impact on the oil market, leading to increased selling pressure on WTI. The stronger outlook for peace reflects a significant shift in sentiment, influencing not only oil prices but also the broader currency market, particularly in the USD/EUR exchange rate. Investors will be closely monitoring developments in the region, as any resolution could further shift trading dynamics in both commodities and currencies.
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Data Source: FX Killer Analysis Team Updated: 2025-11-26 09:22
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.