Crude Oil Movement
Crude Oil prices advanced 2.19% against the USD for the 24 hour period ending 23:00GMT, closing at 91.96.
In the Asian session, at GMT0300, Crude Oil is trading at 91.94, marginally lower from yesterday’s close.
Turkey confirmed that it was deploying at least 25 additional F-16 fighter jets to an airbase close to the border with Syria, fuelling fears the ongoing conflict in Syria could spread to other countries in the region.
Investors await the oil inventory reports later today and tomorrow to offer further guidance to oil prices.
Crude oil is expected to find support at 89.86, and a fall through could take it to the next support level of 87.79. Crude oil is expected to find its first resistance at 93.45, and a rise through could take it to the next resistance level of 94.97.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
