Crude Oil Movement
Oil prices declined 2.47% against the USD, on Friday, for the 24 hour period ending 23:00GMT, closing at 86.54, as a weak jobs report stoked recession concerns, outweighing production shutdowns in the Gulf of Mexico as tropical storm, Lee formed near the Louisiana coast.
At GMT 0300, Oil is trading at USD85.75 per barrel in the Asian session, 0.91% lower from 23:00GMT.
The pair has its first resistance at 87.97, followed by the next resistance at 90.19. On the other side, the first support is at 84.48, with the subsequent support at 83.21.
The pair is trading below its 20 Hr and its 50 Hr moving averages.
