Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.64% against the USD and closed at USD74.23 per barrel.
In the Asian session, at GMT0300, the pair is trading at 74.56, with oil trading 0.44% higher against the USD from yesterday’s close, amid signs that crude exports from Iran are decreasing, ahead of the re-imposition of US sanctions and as a hurricane moved across the Gulf of Mexico.
The pair is expected to find support at 73.55, and a fall through could take it to the next support level of 72.53. The pair is expected to find its first resistance at 75.09, and a rise through could take it to the next resistance level of 75.63.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
