Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.52% against the USD and closed at USD64.21 per barrel, surrendering its previous session gains.
In the Asian session, at GMT0400, the pair is trading at 65.00, with oil trading 1.23% higher against the USD from yesterday’s close, after Saudi Arabian Energy Minister, Khalid al-Falih, stated that OPEC’s deal to curb global crude glut should be extended into 2019 in order to rein in oil market.
The pair is expected to find support at 64.27, and a fall through could take it to the next support level of 63.53. The pair is expected to find its first resistance at 65.58, and a rise through could take it to the next resistance level of 66.15.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
