West Texas Intermediary (WTI) Crude Oil prices edge higher during the Asian session on Wednesday, albeit lack follow-through amid easing concerns abou
WTI gains some positive traction during the Asian session, though lacks bullish conviction. Easing concerns about potential supply disruptions due to the Israel-Gaza conflict cap gains. Worries about tight global supply and a softer USD continue to act as a tailwind for Oil prices. t potential supply disruptions due to the Israel-Palestinian conflict. The black gold currently trades around the $84.65-$84.70 region, up just over 0.10% for the day.
Apart from this, worries about tightening global crude supply might continue to act as a tailwind for Crude Oil prices. In fact, oil ministers of six Arab nations reaffirmed to take additional measures at any time to support market stability. This, along with the prevalent US Dollar selling bias, might continue to lend some support to the US Dollar-denominated commodity.
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