Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.19% against the USD and closed at USD68.93 per barrel on Friday, ahead of US sanctions on Iran oil.
Meanwhile, fresh figures from Baker Hughes reported that the number of active oil rigs advanced by 7 to 867, after declining for two straight weeks in the week ended 14 September.
In the Asian session, at GMT0300, the pair is trading at 68.96, with oil trading slightly higher against the USD from Friday’s close.
The pair is expected to find support at 67.96, and a fall through could take it to the next support level of 66.97. The pair is expected to find its first resistance at 69.93, and a rise through could take it to the next resistance level of 70.91.
Crude oil is showing convergence with its 20 Hr and 50 Hr moving averages.
