Crude Oil Movement
On Friday, Oil prices advanced 1.27% against the USD for the 24 hour period ending 23:00GMT, closing at 108.26, after the release of better than expected US jobs data and as Libyan leader Muammar Qaddafi’s forces regained ground against rebels.
At GMT 0300, Oil is trading at USD 108.66 per barrel in the Asian session, 0.37% higher from 23:00GMT.
The pair has its first resistance at 109.51, followed by the next resistance at 110.35. On the other side, the first support is at 107.06, with the subsequent support at 105.45.
Crude oil is trading far above its 20 Hr and 50 Hr moving averages.
