For the 24 hours to 23:00 GMT, Crude Oil declined 2.14% against the USD and closed at USD68.10 per barrel on Friday.
Separately, fresh figures from Baker Hughes disclosed that the number of active US oil rigs fell by 5 to 858 in the week ended 20 July.
In the Asian session, at GMT0300, the pair is trading at 68.10, with oil trading flat against the USD from Friday’s close.
The pair is expected to find support at 67.29, and a fall through could take it to the next support level of 66.49. The pair is expected to find its first resistance at 69.30, and a rise through could take it to the next resistance level of 70.51.
Crude oil is trading below its 20 Hr and 50 Hr moving averages.
