Crude Oil Movement
Oil prices advanced 0.72% against the USD for the 24 hour period ending 23:00GMT, closing at 108.15, as dollar weakened.
In the US, the American Petroleum Institute reported that the crude oil inventories rose by 667,000 barrels last week to 356.1 million. Gasoline stockpiles dropped by 1.79 million barrels to 212.7 million, while stocks of distillates, which include heating oil and diesel, dropped 3.4 million barrels.
At GMT 0300, Oil is trading at USD 108.94 per barrel in the Asian session, 0.73% higher from 23:00GMT.
The pair has its first resistance at 110.13, followed by the next resistance at 111.32. On the other side, the first support is at 106.60, with the subsequent support at 104.26.
The pair is trading above its 20 Hr and 50 Hr moving averages.
