Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.39% against the USD and closed at 44.63, amid strength in the greenback.
Yesterday, the American Petroleum Institute (API) reported that US crude stockpiles fell by 2.3 million barrels to 520.8 million barrels in the last week.
In the Asian session, at GMT0300, the pair is trading at 44.64, with the oil trading marginally higher from yesterday’s close.
The pair is expected to find support at 44.22, and a fall through could take it to the next support level of 43.81. The pair is expected to find its first resistance at 45.36, and a rise through could take it to the next resistance level of 46.09.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
