WTI crude oil futures stay elevated near $96 per barrel mark on Tuesday morning in Asia as Middle East turmoil escalates. The Israeli military said on Tuesday that it had detected missiles launched from Iran heading towards Israeli territory. Meanwhile, the United Arab Emirates (UAE) announced the temporary and full closure of the country's airspace as an exceptional precautionary measure. Currently, the counter is trading at $96.04 per barrel, up 2.5% on the day following a more than 5% fall yesterday. Meanwhile Brent crude oil is hovering above $103 mark. Traders now await the release of the American Petroleum Institute (API) report, which will be published later on Tuesday.

Powered by Commodity Insights