Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 3.94% against the USD and closed at USD56.54 per barrel.
Separately, the American Petroleum Institute (API) reported that US crude oil inventories fell by 5.0 million barrels to 469.5 million barrels in the week ended 27 June 2019.
In the Asian session, at GMT0300, the pair is trading at 56.59, with oil trading 0.09% higher against the USD from yesterday’s close.
The pair is expected to find support at 55.31, and a fall through could take it to the next support level of 54.03. The pair is expected to find its first resistance at 58.65, and a rise through could take it to the next resistance level of 60.71.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
