Crude Oil Movement
For the 24 hours to 23:00 GMT, Crude Oil rose 0.53% against the USD and closed at USD47.32 per barrel on Friday.
Meanwhile, Baker Hughes disclosed that active oil rigs in US remained unchanged at 759 in the week ended 01 September.
In the Asian session, at GMT0300, the pair is trading at 47.43, with the oil trading 0.23% higher against the USD from Friday’s close.
The pair is expected to find support at 46.82, and a fall through could take it to the next support level of 46.22. The pair is expected to find its first resistance at 47.77, and a rise through could take it to the next resistance level of 48.12.
Crude oil is trading above its 20 Hr and 50 Hr moving averages.
