WTI crude oil prices climbed on Tuesday as the passage of a US government funding bill bolstered optimism for a recovery in economic activity and fuel demand. US oil stabilized near the $60.75 mark, registering a solid 1.20% daily gain. The market's focus shifted from immediate supply concerns to the prospect of a broader economic rebound, providing support for the commodity.
The improved sentiment weakened the US dollar as traders anticipated stronger growth, indirectly benefiting dollar-denominated oil. This dynamic often influences major currency pairs like EUR/USD, as a softer greenback can make crude more affordable for holders of other currencies. The trading session reflected a cautious yet optimistic outlook for a demand-led price recovery in the energy sector.
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Data Source: GrowingPool Analysis Team Updated: 2025-11-11 15:41
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.