Crude Oil Movement
Crude Oil prices advanced 0.80% against the USD for the 24 hour period ending 23:00GMT, closing at 95.67, as the dollar weakened.
Yesterday, the US Energy Information Administration (EIA) reported that crude-oil supplies rose by 2.5 million barrels for the week ended June 7, to 393.8 million barrels. Gasoline supplies edged up by 2.7 million barrels, whereas distillate stockpiles slipped by 1.2 million barrels.
In the Asian session, at GMT0300, Crude Oil is trading at 95.56, 0.11% lower from yesterday’s close.
Crude oil is expected to find support at 94.53, and a fall through could take it to the next support level of 93.50. Crude oil is expected to find its first resistance at 96.52, and a rise through could take it to the next resistance level of 97.48.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
