Energy Preview: WTI crude oil futures extend rally

WTI crude oil prices are extending gains around $63 mark on Tuesday morning in Asia amid sustained worries surrounding escalating geopolitical tensions in the Middle East. Besides, oil prices were supported by weakness in dollar oversea and as OPEC+ agreed during the weekend to increase production at a steady rate by 411,000 barrels per day (bpd) in July, following an increase in May and June easing fears of a larger supply boost. US employment report for May, which is due later on Friday will be closely watched. Currently, the counter is quoting at $62.95 per barrel, up 0.69% on the day.

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