West Texas Intermediate (WTI) crude oil prices are currently trading just below $58.00, marking a one-week high. Despite a modest uptick over the past two days, the commodity is struggling to maintain momentum, with trading activity confined to a narrow range during the Asian session on Tuesday. This price level reflects cautious market sentiment as traders await further signals.
The limited downside potential suggests that the market may find support around current levels, influenced by fluctuations in USD exchange rates and overall economic indicators. As WTI prices consolidate, traders will be closely monitoring developments that could impact demand, particularly in light of ongoing geopolitical tensions and adjustments in supply levels.
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Data Source: FX Killer Analysis Team Updated: 2025-12-23 04:12
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.