West Texas Intermediate (WTI) crude oil prices have surged to approximately $59.90, marking an increase of over 2% during the Asian trading session on Friday. The uptick follows a significant Ukrainian drone strike that damaged an oil depot located at Russia’s Black Sea port of Novorossiysk, raising concerns over supply disruptions.
This escalation in oil prices has potential implications for currency pairs such as USD/EUR and USD/JPY, as higher crude costs could impact inflation and monetary policy considerations. Traders will be closely monitoring market reactions and any further developments in the conflict that could affect the stability of oil supply, which in turn may influence exchange rates across global markets.
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Data Source: FX Killer Analysis Team Updated: 2025-11-14 03:47
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.