West Texas Intermediate (WTI) crude oil prices surged to around $60.80 per barrel on Tuesday, marking a 2.45% increase and extending a four-day bullish rally. This rise has propelled WTI to its highest levels in two months, primarily driven by escalating geopolitical tensions in the Middle East, which have intensified concerns over supply disruptions.
However, gains were tempered by the resumption of oil exports from Venezuela, which could alleviate some supply constraints in the market. As traders monitor these developments, the interplay between geopolitical risks and global supply dynamics will be crucial in determining future movements in oil prices and their impact on the USD/EUR exchange rate and broader forex trading strategies.
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Data Source: FX Killer Analysis Team Updated: 2026-01-13 17:26
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.