Question

what is the oxidising agent in rocket during the combustion of fuel?

Answer 1

In aircraft engines, the oxygen present in air is utilised. However, in the case of Rocket engines, the thermodynamic cycle is different and the external air cannot be utilised for supplying oxygen.
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Answer 2

for any chemical burn or in case of combustion there need to be oxygen . the best oxidizing agent for fuel combustion in rocket is liquid oxygen.