Crude Oil Movement
On Friday, Crude Oil prices advanced 1.62% against the USD for the period ending 21:00GMT, closing at 96.22, as a better-than-expected rise in US jobs last month raised demand for the fuel.
On the other hand, Sudan indicated that it shall stop South Sudanese oil exports within 60 days unless the neighboring state ends support for rebel groups.
In the Asian session, at GMT0300, Crude Oil is trading at 96.20, marginally lower from Friday’s close.
Crude oil is expected to find support at 94.48, and a fall through could take it to the next support level of 92.77. Crude oil is expected to find its first resistance at 97.15, and a rise through could take it to the next resistance level of 98.11.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
