Western Texas Intermediate (WTI) oil price extends losses for the second session, trading lower around $86.70 per barrel during the Asian session on M
Crude oil prices weaken despite geopolitical tension in the Middle-East. Israel hit missiles at Damascus and Aleppo international airports in Syria. Chinese crude oil output edged up 0.3% to 16.87 million tonnes. onday. However, Crude oil prices received upward support due to the concerns that the Israel-Gaza conflict may escalate across the Middle East, potentially disrupting supplies from one of the world's leading production regions.
The Greenback seems to be finding potential support from robust US economic data released in the previous week. The recent job data reflects a strong economy, with Weekly Initial Jobless Claims reaching their lowest level since January, indicating a resilient job market. However, the housing market presents challenges as existing home sales have fallen to their lowest point since 2010.
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