Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.66% against the USD and closed at USD61.48 per barrel on Friday.
Meanwhile, Baker Hughes disclosed that active oil rigs in US fell by 5 rigs to a level of 742 in the week ended 05 January.
In the Asian session, at GMT0400, the pair is trading at 61.63, with oil trading 0.24% higher against the USD from Friday’s close.
The pair is expected to find support at 61.14, and a fall through could take it to the next support level of 60.64. The pair is expected to find its first resistance at 62.08, and a rise through could take it to the next resistance level of 62.52.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
