Crude Oil Movement
Oil prices declined 0.70% against the USD for the 24 hour period ending 23:00GMT, closing at 96.96.
In the US, Energy Information Administration (EIA) reported that, crude oil inventories rose by 1.7 million barrels in the week ending on March 11.
At GMT 0400, Oil is trading at USD 97.80 per barrel in the Asian session, 0.87% higher from 23:00GMT.
The pair has its first resistance at 99.52, followed by the next resistance at 101.25. On the other side, the first support is at 96.15, with the subsequent support at 94.51.
The pair is showing convergence with its 20 Hr and 50 Hr moving averages.
