West Texas Intermediate (WTI) crude oil is trading around $57.50, reflecting a decline of 1.25% on Tuesday. The market is reacting to the escalating political turmoil in Venezuela, which raises concerns about potential disruptions to global oil supply. As traders closely monitor developments, there is heightened uncertainty regarding how this situation may impact oil prices in the near term.
The looming API inventory report adds another layer of complexity to the market. Investors are keen to assess the implications of Venezuela's instability alongside the latest inventory data, which could influence trading strategies. The interplay between geopolitical factors and supply dynamics continues to drive fluctuations in the WTI price, impacting related currency pairs and overall market sentiment.
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Data Source: FX Killer Analysis Team Updated: 2026-01-06 18:30
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.