WTI price received upward support as investors expect Israel to respond to Iran’s assault. Israeli Prime Minister Benjamin Netanyahu has called upon his war cabinet to formulate a response to Iran's direct attack on Israel. The crude Oil prices hold ground in the face of mixed Chinese data. West Texas Intermediate Oil price edges higher to near $85.30 per barrel during the Asian trading hours on Tuesday.
China's Gross Domestic Product for the first quarter of 2024 expanded by 1.6% quarter-on-quarter, surpassing the previous quarter's growth of 1.0%. Year-on-year GDP growth came at 5.3%, exceeding expectations of 5.0% and surpassing the 5.2% figure from the previous period. However, China's Industrial Production in March increased by 4.5%, falling short of market expectations of 5.4% and the previous reading of 7.0%.