For the 24 hours to 23:00 GMT, Crude Oil rose 1.00% against the USD and closed at USD73.83 per barrel on Friday.
Baker Hughes disclosed that the number of active oil rigs in the US rose by 5 to 863 in the week ended 06 July 2018.
In the Asian session, at GMT0300, the pair is trading at 74.12, with oil trading 0.39% higher against the USD from Friday’s close.
The pair is expected to find support at 72.79, and a fall through could take it to the next support level of 71.45. The pair is expected to find its first resistance at 74.81, and a rise through could take it to the next resistance level of 75.49.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.