West Texas Intermediate (WTI) crude oil is currently trading at approximately $59.45, remaining under the $60.00 mark during the Asian session on Friday. The decline is attributed to a rise in US crude oil stockpiles, which indicates an oversupply in the market. This increase in inventories is influencing trading sentiment, leading to cautious movements among investors.
Despite the drop in oil prices, market participants are finding some support from expectations of a potential rate cut by the Federal Reserve. These bets on lower interest rates could help cushion losses in the energy sector and may encourage buying activity in other asset classes. As the USD remains in focus, fluctuations in the exchange rate could significantly impact oil prices moving forward in the trading week.
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Data Source: FX Killer Analysis Team Updated: 2025-12-05 03:08
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.