Crude Oil: Oil trading lower this morning

Crude Oil

Crude Oil Movement

For the 24 hours to 23:00 GMT, Crude Oil declined 0.49% against the USD and closed at USD68.41 per barrel, surrendering its previous session gains.

In the Asian session, at GMT0300, the pair is trading at 68.35, with oil trading 0.09% lower against the USD from yesterday’s close, amid uncertainty over the outcome of the joint Organisation of the Petroleum Exporting Countries (OPEC) and non-OPEC ministerial meeting, scheduled later today.

The pair is expected to find support at 67.70, and a fall through could take it to the next support level of 67.05. The pair is expected to find its first resistance at 69.28, and a rise through could take it to the next resistance level of 70.21.

Crude oil is trading between its 20 Hr and 50 Hr moving averages.

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