Oil prices retreat in early Asian trade despite geopolitical risks, with WTI slipping below $83.00 on profit-taking.
West Texas Intermediate crude fell to $82.80 in early Asian trading Thursday, extending losses despite ongoing hostilities in the Middle East. Profit-taking by investors weighed on prices after recent gains, offsetting concerns over supply disruptions.
WTI had previously traded above $83.00, supported by geopolitical risks and tighter global supply outlooks. Market participants remain cautious as tensions persist, though short-term selling pressure emerged.
No immediate market reaction was reported beyond the price decline.