Wti Jumps Despite Stronger Usd

Wti Jumps Despite Stronger Usd by Adam Rosen last updated on June 30, 2025

Wti Jumps Towards $68.00 Amid Stronger Dollar

The trading price of West Texas Intermediate (WTI) is near $67.90, but the upside is capped amid a stronger US Dollar. Recently, the West Texas Intermediate (WTI) has managed to recover a little bit on news of crude oil draw.

weekly report from the API showed a decline in crude stocks last week. On 8th November, the USA crude oil stockpile declined by 777K barrels. Meanwhile, the previous week's data showed an increase of 3.13 million barrels.

Stronger Dollar Caps Gains In Wti

This news of the drawdown increased the optimism that the US will buy more oil in the coming weeks. However, the stronger US Dollar is keeping the WTI prices under check as it trades just under $68.00.

Right now, the DXY is at yearly highs, as the last time it was at these levels was in November 2023. The recent US CPI and the Trump win have further solidified the US Dollar's position among its peers.

In general, a stronger US Dollar makes the oil expensive for other nations. Over the long run, this could lead to lower demand for crude oil.

According to the OPEC, the demand for oil remains subdued, and the growth prospects have also been lowered once again. This is also weighing on the WTI price & keeping it under check.

In fact, the weakness in demand will also continue in the year 2025, which makes it more worrying. There's no denying that the world is moving away from crude oil and now it has started to show its effects as well.

Next up, the EIA report is due along with Initial Jobless Claims, PPI, and Fedspeak. Over the long run, things are looking tough for the crude oil, which has already gone through a lot this year.

If the prices keep moving lower, it would be bad news for the OPEC countries as they rely heavily on oil revenues.