Crude Oil Movement
Oil prices advanced 3.55% against the USD for the 24 hour period ending 23:00GMT, closing at 86.39, amid speculation that a storm building in the Gulf of Mexico could impact oil supplies in the US.
Oil prices were further buoyed by an unexpected surge in the US service sector index.
At GMT 0300, Oil is trading at USD86.32 per barrel in the Asian session, 0.08% lower from 23:00GMT.
The pair has its first resistance at 87.52, followed by the next resistance at 88.73. On the other side, the first support is at 84.19, with the subsequent support at 82.07.
The pair is trading above its 20 Hr and its 50 Hr moving averages.
