West Texas Intermediate (WTI) crude oil is trading with a negative bias on Friday, following a day of solid gains. The market is currently reacting to increased U.S. oversight of Venezuelan oil amid heightened military tensions in Caracas. This situation is influencing traders' sentiments, impacting both the oil market and related currency pairs.
As WTI prices fluctuate, the short-term momentum shows improvement, particularly as the price hovers above the 21-day Simple Moving Average (SMA). Market participants are closely monitoring these developments, as they could have significant implications for the USD and global energy exchange rates, especially against the EUR and other major currencies. The ongoing situation underscores the delicate balance between geopolitical events and market dynamics.
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Data Source: FX Killer Analysis Team Updated: 2026-01-09 14:24
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.