Crude Oil Movement
Oil prices advanced 0.93% against the USD for the 24 hour period ending 23:00GMT, closing at 113.85, amid weaker dollar and as investors remained cautious on fuel demand following the ongoing turmoil in North Africa and the Middle East.
At GMT 0300, Oil is trading at USD 112.69 per barrel in the Asian session, 1.02% lower from 23:00GMT.
The pair has its first resistance at 113.84, followed by the next resistance at 114.98. On the other side, the first support is at 111.88, with the subsequent support at 111.06.
Crude oil is trading well below its 20 Hr and 50 Hr moving averages.
