Oil futures marked a high of 103.44 and a low of 101.96 yesterday as crude prices edged higher on Monday on speculation that stockpiles at a key US delivery point are on their way down, while ongoing conflicts in the Middle Easter supported prices as well. Forecasts for a powerful winter storm to trek across the US this week as well as ongoing political instability in Libya, South Sudan and Venezuela also supported the commodity. The US, the world’s biggest oil consuming country, will use 18.9 million barrels a day of oil this year, according to an EIA forecast. Time of Writing : 1255 HRS - PST (Tuesday, February 25, 2014) DAILY TECHNICAL RESISTANCES AND SUPPORTS CURRENT PRICE: 102.14 RESISTANCES: 102.90 103.17 103.49 SUPPORTS: 101.72 101.44 101.16
Posted on: Tue, 25 Feb 2014 08:35:10 +0000
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