Crude Oil Movement
Oil prices declined 1.33% against the USD for the 24 hour period ending 23:00GMT, closing at 88.73.
The Energy Information Administration reported that the oil inventories declined 6.7 million barrels in the week ended September 9. Gasoline supplies added 1.9 million barrels, while distillates fuel inventories rose 1.7 million barrels.
At GMT 0300, Oil is trading at USD 88.74 per barrel in the Asian session, flat from 23:00GMT.
The pair has its first resistance at 89.71, followed by the next resistance at 90.67. On the other side, the first support is at 87.99, with the subsequent support at 87.23.
The pair is trading just below its 20 Hr and its 50 Hr moving averages.
