Crude Oil Movement
Oil prices advanced 0.78% against the USD for the 24 hour period ending 23:00GMT, closing at 85.20.
At GMT 0400, Oil is trading at USD 85.07 per barrel in the Asian session, 0.15% lower from 23:00GMT.
The pair has its first resistance at 85.97, followed by the next resistance at 86.88. On the other side, the first support is at 84.14, with the subsequent support at 83.22.
EIA reported crude oil inventories growth by 0.86 million barrels for the week ended on February 11, compared to 1.9 million in the week prior.
The pair is showing convergence with its 20 Hr and 50 Hr moving averages.
