Crude Oil Movement
Crude Oil prices declined 1.28% against the USD for the 24 hour period ending 23:00GMT, closing at 90.92.
Late yesterday, the American Petroleum Institute (API) reported that the US crude oil inventories rose 335,000 barrels in the week to September 21. Gasoline stocks rose 112,000 barrels, while distillate inventories fell 483,000 barrels.
In the Asian session, at GMT0300, Crude Oil is trading at 91.16, 0.26% higher from yesterday’s close.
Crude oil is expected to find support at 90.12, and a fall through could take it to the next support level of 89.09. Crude oil is expected to find its first resistance at 92.69, and a rise through could take it to the next resistance level of 94.23.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
