Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 1.31% against the USD and closed at USD68.72 per barrel.
In the Asian session, at GMT0300, the pair is trading at 68.82, with oil trading 0.15% higher against the USD from yesterday’s close, after the American Petroleum Institute (API) reported that US crude oil inventories fell more than expected by 3.2 million barrels to 407.6 million barrels in the week ended 20 July.
The pair is expected to find support at 67.92, and a fall through could take it to the next support level of 67.01. The pair is expected to find its first resistance at 69.39, and a rise through could take it to the next resistance level of 69.95.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
