0106 GMT — Oil prices decline in early Asian trade after U.S. PMI data released overnight showed an expansion in economic activity. The U.S. dollar strengthened after the country’s business activity ticked up in October, weighing on oil prices, Oanda analyst Edward Moya says in a research note. “It looks like the US economy refuses to break and that means the risks of more tightening and that the higher for longer mantra will last a while longer,” Moya says. Oil prices could remain modestly lower if diplomatic efforts to contain the Israel-Hamas conflict continue, the analyst adds. Front-month WTI drops 0.25% to $83.53/bbl and Brent is 0.1% lower at $87.97/bbl. ([email protected])