Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 1.07% against the USD and closed at USD66.79 per barrel, after the American Petroleum Institute (API) reported that US crude oil inventories advanced by 3.7 million barrels to 403.5 million barrels in the week ended 10 August.
In the Asian session, at GMT0300, the pair is trading at 66.76, with oil trading slightly lower against the USD from yesterday’s close.
The pair is expected to find support at 66.06, and a fall through could take it to the next support level of 65.35. The pair is expected to find its first resistance at 67.92, and a rise through could take it to the next resistance level of 69.07.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
