Crude Oil Movement
Oil prices advanced 2.74% against the USD for the 24 hour period ending 23:00GMT, closing at 99.53.
Late yesterday, the American Petroleum Institute reported that crude-oil inventories declined 3 million barrels in the week ended June 10. Gasoline stockpiles rose 1.1 million barrels, while supplies of distillates declined 426,000 barrels.
At GMT 0300, Oil is trading at USD 99.25 per barrel in the Asian session, 0.28% lower from 23:00GMT.
The pair has its first resistance at 100.46, followed by the next resistance at 101.66. On the other side, the first support is at 97.27, with the subsequent support at 95.28.
The pair is trading just above its 20 Hr and its 50 Hr moving averages.
