Crude Oil Movement
Oil prices declined 0.57% against the USD for the 24 hour period ending 23:00GMT, closing at 86.92.
The US Energy Information Administration reported a 1.9 million barrel jump in crude inventories for the week ended on February 4th, compared to the 2.60 million barrel increase the prior week.
At GMT 0400, Oil is trading at USD 86.84 per barrel in the Asian session, 0.09% lower from 23:00GMT.
The pair has its first resistance at USD 87.74, followed by the next resistance at USD 88.64. On the other side, the first support is at USD 86.15, with the subsequent support at USD 85.16.
The pair is trading below its 20 Hr and 50 Hr moving average.
