Crude Oil Movement
Oil prices advanced 1.68% against the USD for the 24 hour period ending 23:00GMT, closing at 96.59, amid decline in the dollar.
Late Tuesday, the American Petroleum Institute reported that the crude-oil inventories rose by 2.3 million barrels for the week ended July 8. Stockpiles of gasoline declined by 1.6 million, while inventories of distillates increased by 4.8 million.
At GMT 0300, Oil is trading at USD 96.84 per barrel in the Asian session, 0.26% higher from 23:00GMT.
The pair has its first resistance at 98.38, followed by the next resistance at 99.91. On the other side, the first support is at 94.43, with the subsequent support at 92.01.
The pair is trading just above its 20 Hr moving average and its 50 Hr moving average.
