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Breaking Posted 2 hours ago

WTI Crude Drops 4.6% to $77 as Risk Premium Unwinds

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WTI crude oil has fallen roughly $3.70 to around $77, extending a three-day selloff totaling over 12%. Prices broke below a key technical zone at $77.44–$78.97 and the 61.8% Fibonacci retracement at $79.62, reinforcing a bearish bias as markets unwind geopolitical risk built during the U.S.-Iran conflict. The sharp oil decline pressures commodity-linked currencies, particularly CAD and NOK. USD/CAD is the primary pair to watch, as falling crude typically weakens the Canadian dollar. Risk-sensitive pairs like AUD/USD and USD/NOK may also react, while a broader risk-off tone could support safe-haven flows into USD and JPY.
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