West Texas Intermediate (WTI) crude oil has slipped below the $60.00 mark, trading at approximately $59.90 during early Asian trading on Tuesday. The decline is largely attributed to a firmer US Dollar (USD), which has strengthened against major currency pairs, including the euro (EUR). This upward movement in the USD is drawing attention as traders reassess their positions amid shifting market dynamics.
Concerns over global energy demand are also weighing on WTI prices, as economic indicators suggest a slowdown in consumption. With the USD's exchange rate impacting oil prices, further fluctuations are expected as traders navigate these developments. The market will be closely watching for additional economic data that could influence both the USD and oil demand in the coming days.
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Data Source: Yongxianli Analysis Team Updated: 2025-11-11 01:25
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.