West Texas Intermediate (WTI) crude oil prices rose and maintained levels near the mid-$99 range on Tuesday, driven by ongoing supply worries. The price gains were observed during the first half of the European trading session, reflecting tightness in the market.
According to FX Street, WTI crude oil stuck to strong intraday gains, supported by concerns over limited US crude oil availability. This persistent supply uncertainty has contributed to the upward price momentum.
For Japanese investors, fluctuations in WTI crude oil prices are significant as they impact energy costs and inflation expectations, influencing both the FX and equities markets.