Crude Oil Movement
Crude Oil prices advanced 1.02% against the USD for the 24 hour period ending 23:00GMT, closing at 45.67.
Gains in oil prices were kept in check, after the American Petroleum Institute (API) revealed that the US crude oil inventories rose 13 million barrels last week.
In the Asian session, at GMT0400, the pair is trading at 45.44, with the oil trading 0.5% lower from yesterday’s close.
The pair is expected to find support at 44.65, and a fall through could take it to the next support level of 43.86. The pair is expected to find its first resistance at 46.39, and a rise through could take it to the next resistance level of 47.34.
Crude oil is trading between its 20 Hr and 50 Hr moving averages.
