Crude Oil Movement
Oil prices advanced 1.78% against the USD for the 24 hour period ending 23:00GMT, closing at 93.02.
Late Tuesday, the American Petroleum Institute reported that crude oil inventories declined 2.7 million barrels in the week ended June 24. Gasoline supplies decreased 91,000 barrels, while stockpiles of distillates, which include diesel and heating oil, declined 945,000 barrels.
At GMT 0300, Oil is trading at USD 92.92 per barrel in the Asian session, 0.11% lower from 23:00GMT.
The pair has its first resistance at 94.07, followed by the next resistance at 95.21. On the other side, the first support is at 91.11, with the subsequent support at 89.29.
The pair is trading just above its 20 Hr and its 50 Hr moving averages.
