WTI crude oil futures extend downside on Friday morning in Asia under $70 per barrel mark as dollar maintains recent strength. The US Dollar Index (DXY), which measures the value of the US Dollar against its six major peers, trades hovers around 108.50, the highest level not seen since November 2022, following the Federal Reserve (Fed) implemented a hawkish 25 basis point (bps) rate cut on Wednesday. The Fed's Summary of Economic Projections, or 'dot-plot,' showed only two rate cuts in 2025, down from four cuts projected in September. Chins demand concerns also kept the commodity under pressure. Currently, the counter is quoting at $68.97 per barrel, down 0.59% on the day and set for a weekly decline.

Powered by Commodity Insights