Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.49% against the USD and closed at USD61.17 per barrel.
In the Asian session, at GMT0400, the pair is trading at 62.79, with oil trading 2.65% higher against the USD from yesterday’s close, after a US airstrike at Baghdad’s airport resulted into the death of a senior Iranian general and Iraqi militia’s deputy commander, causing disruption in oil supply.
The pair is expected to find support at 61.01, and a fall through could take it to the next support level of 59.22. The pair is expected to find its first resistance at 64.21, and a rise through could take it to the next resistance level of 65.62.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
