Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $79.20 on Thursday.
WTI prices loses momentum near seven-week lows of $79.20 on Thursday. A surprise build in US crude stocks weighs on black gold prices. WTI prices edge lower amid signs of easing Middle East geopolitical tensions. The US employment reports on Friday will be closely watched. Western Texas Intermediate , the UScrude oilbenchmark, is trading around $79.20 on Thursday.
According to Bloomberg, the United States and Saudi Arabia are discussing an agreement that would provide Riyadh security guarantees and possible diplomatic ties with Israel if its government ends the war in Gaza. Nonetheless, the rising geopolitical risks could raise the fear ofoil supply disruption in the region and lift the black gold price.
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