Crude Oil Movement
Crude Oil prices advanced 2.17% against the USD for the 24 hour period ending 23:00GMT, closing at 92.26, as mounting tensions between Iran and the West rekindled worries over supply disruptions.
Yesterday, the Israeli Prime Minister, Benjamin Netanyahu, stated that the world has until next summer at the latest to stop Iran before it can build a nuclear bomb.
In the Asian session, at GMT0300, Crude Oil is trading at 92.31, 0.05% higher from yesterday’s close.
Crude oil is expected to find support at 90.66, and a fall through could take it to the next support level of 89.02. Crude oil is expected to find its first resistance at 93.17, and a rise through could take it to the next resistance level of 94.04.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
