Crude Oil Movement
Oil prices declined 1.87% against the USD for the 24 hour period ending 23:00GMT, closing at 96.93, as efforts to control flooding in Louisiana curbed the speculation that the Mississippi River would flood refineries and disrupt fuel supplies .
At GMT 0300, Oil is trading at USD 97.03 per barrel in the Asian session, 0.10% higher from 23:00GMT.
The pair has its first resistance at 98.87, followed by the next resistance at 100.72. On the other side, the first support is at 95.96, with the subsequent support at 94.90.
The pair is trading well below its 20 Hr and 50 Hr moving averages.
