Crude Oil Movement
Oil prices advanced 0.08% against the USD for the 24 hour period ending 23:00GMT, closing at 99.19.
Late Tuesday, the American Petroleum Institute reported that the crude-oil inventories rose 3.96 million barrels on the week ended July 22. Gasoline stockpiles declined 639,000, while stocks of distillates, which include heating oil and diesel, rose 2.9 million.
At GMT 0300, Oil is trading at USD 99.21 per barrel in the Asian session, flat from 23:00GMT.
The pair has its first resistance at 100.64, followed by the next resistance at 102.07. On the other side, the first support is at 97.77, with the subsequent support at 96.33.
The pair is showing convergence with its 20 Hr and its 50 Hr moving averages.
