Crude Oil Movement
Crude Oil prices advanced marginally against the USD for the 24 hour period ending 23:00GMT, closing at 89.06, amid supply worries stemming from lingering tensions in the Middle East including a fragile ceasefire between Israel and Palestine and worsening unrest in Syria.
Meanwhile, investors await the release of oil inventory data scheduled to be released later today and tomorrow, to offer further guidance to oil prices.
In the Asian session, at GMT0400, Crude Oil is trading at 88.70, 0.40% lower from yesterday’s close.
Crude oil is expected to find support at 88.09, and a fall through could take it to the next support level of 87.48. Crude oil is expected to find its first resistance at 89.82, and a rise through could take it to the next resistance level of 90.94.
Crude Oil is trading just below its 20 Hr and 50 Hr moving averages.
