Crude Oil Movement
Oil prices advanced 0.75% against the USD for the 24 hour period ending 23:00GMT, closing at 99.38, amid news of a concrete action from European Union leaders on how to help Greece’s deal with its debt issues helped push oil prices higher. Earlier, news that the International Energy Agency would not release more emergency oil for now also lifted investor sentiment.
At GMT 0300, Oil is trading at USD 99.44 per barrel in the Asian session, 0.06% higher from 23:00GMT.
The pair has its first resistance at 100.67, followed by the next resistance at 101.89. On the other side, the first support is at 97.71, with the subsequent support at 95.97.
The pair is trading just above its 20 Hr and its 50 Hr moving averages.
