West Texas Intermediate (WTI) crude oil prices have retreated for a second consecutive day, trading at approximately $59.20 per barrel, reflecting a decline of 1.60% on Thursday. The easing of tensions surrounding potential U.S. military action against Iran has contributed to this downward movement, allowing traders to reassess their positions in the highly volatile oil market.
Additionally, rising exports from Venezuela are further pressuring crude prices, as increased supply may overshadow concerns about geopolitical risks. The retreat in oil prices could influence related currency pairs, particularly the USD, which often sees fluctuations in correlation with oil market trends. Traders are closely monitoring these developments, as shifts in the oil market can significantly impact broader economic indicators and exchange rates.
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Data Source: FX Killer Analysis Team Updated: 2026-01-15 15:25
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.