West Texas Intermediate (WTI) crude oil experienced a notable rebound on Monday, recovering from two-week lows. The recovery comes as traders react to the United States' significant actions against Venezuela, following military strikes that resulted in the removal of President Nicolas Maduro. As prices fluctuated, WTI found support below the $60 per barrel mark, highlighting market sensitivity to geopolitical developments.
The turmoil in Venezuela has raised concerns about potential supply disruptions, impacting trading dynamics in the energy market. This reaction has implications for various currency pairs, notably the USD, which may see increased volatility against the EUR as investors assess the broader economic consequences of the situation. With WTI oil prices hovering just below critical technical levels, market participants are closely monitoring the unfolding events for further direction in exchange rates.
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Data Source: FX Killer Analysis Team Updated: 2026-01-05 19:20
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.