West Texas Intermediate (WTI) crude oil prices have dipped to approximately $59.20, reflecting a 0.20% decrease as the US dollar strengthens against major currencies. The robust performance of the USD has influenced trading dynamics, impacting the oil market as investors reassess their positions amidst prevailing exchange rate fluctuations.
Despite the decline, OPEC+ stability continues to support crude prices, with the oil cartel maintaining production levels. However, the combination of a stronger dollar and cautious market sentiment suggests that traders are closely monitoring both currency pair movements and potential shifts in supply-demand dynamics, which could further influence WTI's trajectory in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-12-02 10:47
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.