West Texas Intermediate (WTI) crude oil prices are currently trading with a mild negative bias, hovering just under $60.00 per barrel. Despite a three-week upward trend, WTI struggles to gain traction, oscillating within a narrow range during the Asian trading session on Monday. The market sentiment reflects uncertainty, with traders assessing supply dynamics and potential economic impacts.
As WTI prices face resistance below the $60.00 threshold, the downside potential appears limited, suggesting strong underlying support levels. Market participants are closely monitoring economic indicators and geopolitical developments that could influence the USD's strength and, in turn, affect oil prices. The interplay between crude oil and major currency pairs, particularly the USD/EUR exchange rate, remains crucial for traders in the energy market.
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Data Source: FX Killer Analysis Team Updated: 2025-12-08 03:10
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.