West Texas Intermediate crude oil, the global benchmark for oil prices.
WTI Crude Oil (USOIL) is one of the most actively traded commodities in the world, with prices driven by OPEC+ production decisions, US inventory data, geopolitical tensions in oil-producing regions, and broader global growth expectations. Because oil underpins so many sectors of the economy, it is closely watched by macro traders, equity investors, and forex traders, particularly those trading CAD, NOK, and RUB-correlated pairs. Daily US EIA inventory reports and weekly rig counts are key data releases to monitor.
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