Crude Oil Movement
Oil prices advanced 0.93% against the USD for the 24 hour period ending 23:00GMT, closing at 81.37, supported by speculation that steps taken by the European Central Bank would resolve the debt crisis, raising demand for oil.
Investors await the oil inventory reports later today and tomorrow to offer guidance to oil prices.
At GMT 0300, Oil is trading at USD 82.09 per barrel in the Asian session, 0.88% higher from 23:00GMT.
The pair has its first resistance at 83.85, followed by the next resistance at 85.61. On the other side, the first support is at 78.72, with the subsequent support at 75.35.
The pair is trading above its 20 Hr and 50 Hr moving averages.
