WTI crude oil prices have surged over $4 per barrel in a four-day rally, reaching nearly two-month highs of $60.50 on Tuesday. However, the market has since retreated, stabilizing around the $60.00 level. The uptick in prices is largely attributed to escalating tensions in Iran, which have raised concerns about potential disruptions in oil supply.
The increase in WTI prices could influence the USD/EUR exchange rate, as higher oil prices typically strengthen the dollar against other currencies. Traders are closely monitoring these developments, as sustained price movements in crude oil can have broader implications for inflation and economic growth, particularly in energy-dependent economies. With the ongoing geopolitical unrest, market participants remain cautious, weighing the risks of further price volatility.
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Data Source: FX Killer Analysis Team Updated: 2026-01-13 10:50
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.