West Texas Intermediate (WTI) is under pressure on Friday as markets respond to a growing global supply outlook and remain cautious on demand prospects.
US Dollar (USD) snapped decline overnight as US data - initial jobless claims, prelim services PMI surprised to the upside while UST yields drifted higher. DXY was last at 97.71 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session. WTI trades at $66.26 per barrel, up from Thursday’s close at $65.95.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $68.56 price posted on Thursday, and trading at $68.89.