West Texas Intermediate (WTI) crude oil prices fell to approximately $59.25 during Tuesday's Asian trading hours, dipping below the $59.50 mark as a bearish sentiment took hold in the market. This decline is largely attributed to a resurgence in demand for the US Dollar (USD), which has impacted various commodity prices, including oil.
As traders respond to the strengthening USD, the WTI faces headwinds that could push prices lower in the near term. The current exchange rate dynamics suggest that with the USD gaining traction, the outlook for crude oil remains under pressure, potentially influencing future trading decisions across related currency pairs and commodities.
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Data Source: FX Killer Analysis Team Updated: 2025-12-02 03:06
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.