Crude Oil Movement

For the 24 hours to 23:00 GMT, Crude Oil rose 0.20% against the USD and closed at USD66.37 per barrel.

The Energy Information Administration (EIA) report indicated that US crude oil stockpiles rose 6.3 million barrels to 422.5 million in the week ended 19 October

In the Asian session, at GMT0300, the pair is trading at 66.31, with oil trading 0.09% lower against the USD from yesterday’s close.

The pair is expected to find support at 65.67, and a fall through could take it to the next support level of 65.02. The pair is expected to find its first resistance at 67.34, and a rise through could take it to the next resistance level of 68.36.

Crude oil is trading below its 20 Hr and 50 Hr moving averages.

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