West Texas Intermediate (WTI) crude oil is trading around $56.30 in early European sessions on Thursday, reflecting a decline as it slips below the $56.50 mark. This drop is primarily driven by a modest rebound in the US Dollar (USD), which has strengthened against major currency pairs, impacting commodity prices.
The weakening demand for energy from China has also contributed to the downward pressure on WTI. As concerns about Chinese economic activity persist, traders are closely monitoring the exchange rate dynamics between the USD and other currencies, particularly the Euro (EUR), to gauge further implications for crude oil prices in the coming sessions.
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Data Source: FX Killer Analysis Team Updated: 2025-12-18 07:21
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.