Crude Oil Movement
Oil prices advanced 1.15% against the USD for the 24 hour period ending 23:00GMT, closing at 100.54, on concerns over oil supplies amid tensions in the Middle East.
Investors await the oil inventory reports later today and tomorrow to offer guidance to oil prices.
In the Asian session, at GMT0400, Crude Oil is trading at 100.61, 0.07% higher from yesterday’s close.
Crude oil is expected to find support at 99.63, and a fall through could take it to the next support level of 98.66. Crude oil is expected to find its first resistance at 101.29, and a rise through could take it to the next resistance level of 101.98.
Crude Oil is trading above its 20 Hr and 50 Hr moving averages.
