Crude Oil Movement
Oil prices advanced 0.26% against the USD for the 24 hour period ending 23:00GMT, closing at 93.67.
Gains were however limited amid rising speculation that OPEC countries including Saudi Arabia would increase supplies.
Late Tuesday, the American Petroleum Institute reported that the crude supplies fell by 81,000 barrels for the week ended June 17. Gasoline inventories declined by 1.5 million barrels and distillate inventories shed 541,000 barrels
At GMT 0300, Oil is trading at USD 93.59 per barrel in the Asian session, 0.09% lower from 23:00GMT.
The pair has its first resistance at 94.72, followed by the next resistance at 95.85. On the other side, the first support is at 92.48, with the subsequent support at 91.37.
The pair is trading between its 20 Hr and its 50 Hr moving averages.
