Crude Oil Movement
Oil prices advanced 3.62% against the USD for the 24 hour period ending 23:00GMT, closing at 99.26.
American Petroleum Institute, reported that crude-oil inventories rose by 163,000 barrels in the week to February 18. Additionally, gasoline supplies declined by 1.6 million barrels, and stocks of distillates, which include heating oil and diesel, declined by 534,000 barrels.
At GMT 0400, Oil is trading at USD 99.02 per barrel in the Asian session, 0.24% lower from 23:00GMT.
The pair has its first resistance at 100.83, followed by the next resistance at 102.64. On the other side, the first support is at 96.26, with the subsequent support at 93.50.
The currency pair is trading just above its 20 Hr moving average and well above its 50 Hr moving average.
