Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil declined 0.11% against the USD and closed at 45.24, after oscillating between gains and losses throughout the session.
Separately, on Friday, fresh figures from Baker Hughes indicated that the US oil rigs rose by 10 to 351 in the last week, recording its highest level since April 2015.
In the Asian session, at GMT0300, the pair is trading at 44.94, with the oil trading 0.66% lower from Friday’s close.
The pair is expected to find support at 44.48, and a fall through could take it to the next support level of 44.03. The pair is expected to find its first resistance at 45.68, and a rise through could take it to the next resistance level of 46.43.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
