West Texas Intermediate (WTI) crude oil held steady above $73.50 per barrel on Thursday as a stronger US Dollar counterbalanced concerns over potential supply disruptions. The greenback’s resilience, driven by robust economic data, typically pressures crude prices by making the commodity more expensive for holders of other currencies. However, fears of supply interruptions provided underlying support, maintaining oil’s recent range.
Market participants are closely monitoring geopolitical tensions in key oil-producing regions, which could lead to tighter supplies. At the same time, traders anticipate upcoming US economic indicators for further clues on demand trends, with higher rates potentially dampening consumption. Despite these factors, WTI prices have managed to find stability, reflecting a market in flux but not yet tipping into a definitive trend.
