Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.2% against the USD and closed at USD44.53 per barrel.
However, losses in crude prices were trimmed on the back of news that Libya and Nigeria have been invited to join OPEC’s meeting later this month.
In the Asian session, at GMT0300, the pair is trading at 44.58, with the oil trading 0.11% higher against the USD from yesterday’s close.
The pair is expected to find support at 43.87, and a fall through could take it to the next support level of 43.17. The pair is expected to find its first resistance at 45.06, and a rise through could take it to the next resistance level of 45.55.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
