Crude Oil Movement
Oil prices advanced 3.32% against the USD for the 24 hour period ending 23:00GMT, closing at 100.28.
At GMT 0400, Oil is trading at USD 99.99 per barrel in the Asian session, 0.29% lower from 23:00GMT.
The pair has its first resistance at 101.42, followed by the next resistance at 102.84. On the other side, the first support is at 97.79, with the subsequent support at 95.58.
API reported that crude inventories dropped 1.08 million barrels in the week ended February 25. Gasoline stockpiles declined 4.90 million barrels, and inventories of distillates down 1.44 million barrels.
The pair is trading above its 20 Hr and 50 Hr moving averages.
