Crude Oil Movement
Crude Oil prices advanced 0.25% against the USD for the 24 hour period ending 23:00GMT, closing at 97.40.
Yesterday, the Energy Information Administration reported that the US crude oil inventories jumped 6.4 million barrels for the week ended January 24.
In the Asian session, at GMT0400, Crude Oil is trading at 97.57, 0.17% higher from yesterday’s close.
Crude oil is expected to find support at 96.68, and a fall through could take it to the next support level of 95.78. Crude oil is expected to find its first resistance at 98.11, and a rise through could take it to the next resistance level of 98.64.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
