For the 24 hours to 23:00 GMT, Crude Oil declined 3.83% against the USD and closed at USD67.96 per barrel, as Libyan ports resumed export activities and traders eyed potential supply increases by Russia and other producers.
In the Asian session, at GMT0300, the pair is trading at 68.09, with oil trading 0.19% higher against the USD from yesterday’s close, as the oil worker strike in Norway intensified.
The pair is expected to find support at 66.86, and a fall through could take it to the next support level of 65.63. The pair is expected to find its first resistance at 70.03, and a rise through could take it to the next resistance level of 71.98.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
