Crude Oil Movement
Oil prices advanced 2.08% against the USD for the 24 hour period ending 23:00GMT, closing at 97.04, after the report indicated that new orders for US manufactured goods rose in May.
Prices were further bolstered after Barclays Capital raised its 2012 oil-price targets and forecasted continued strong growth in global demand.
At GMT 0300, Oil is trading at USD 97.30 per barrel in the Asian session, 0.27% higher from 23:00GMT.
The pair has its first resistance at 98.41, followed by the next resistance at 99.51. On the other side, the first support is at 95.27, with the subsequent support at 93.23.
The pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
