Crude Oil Movement
Crude Oil prices declined 2.04% against the USD for the 24 hour period ending 23:00GMT, closing at 96.98.
Investors await the oil inventory reports later today and tomorrow to offer guidance to oil prices.
Meanwhile, the Iran’s Nuclear Chief, Fereydoun Abbasi, attacked the International Atomic Energy Agency (IAEA) citing, “terrorists and saboteurs” might have infiltrated the agency in an effort to derail Tehran’s atomic program.
In the Asian session, at GMT0300, Crude Oil is trading at 96.96, slightly lower from yesterday’s close.
Crude oil is expected to find support at 94.58, and a fall through could take it to the next support level of 92.21. Crude oil is expected to find its first resistance at 99.42, and a rise through could take it to the next resistance level of 101.89.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
