Crude Oil Movement
Crude Oil prices ended flat against the USD for the 24 hour period ending 23:00GMT, closing at 93.18. Earlier, oil prices had declined after the Energy Information Administration (EIA) reported that crude oil stockpiles climbed 1.3 million barrels to 361.3 million barrels. Gasoline supplies surged 7.4 million barrels, while distillate stocks advanced 6.8 million barrels.
In the Asian session, at GMT0400, Crude Oil is trading at 93.47, 0.31% higher from yesterday’s close.
Crude Oil is expected to find support at 92.89, and a fall through could take it to the next support level of 92.30. Crude Oil is expected to find its first resistance at 93.85, and a rise through could take it to the next resistance level of 94.22.
Crude Oil is trading above its 20 Hr and 50 Hr moving averages.
