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Brent futures decline

FXStreet (Mumbai) - The Brent crude oil futures declined today tracking the strength in the US Dollar Index. The futures had posted gains yesterday after the Organization of Petroleum Exporting Countries (OPEC ) chief calmed market fears regarding the fall in the Crude prices.

Brent Crude for December delivery is down 0.92% to trade at USD 86.33/barrel. The prices had hit a high of USD 87.94 levels yesterday after the data from the Energy Information Agency (EIA) showed Crude inventories in the United States rose by 2.1 million barrels in the last week, compared with analysts' expectations for an increase of 3.4 million barrels.

However, the rise in the Crude prices has been capped by the strength in the US Dollar index, which is trading higher by 0.42% at 86.45 levels.

Brent Crude Technical levels

Brent has an immediate resistance at 87.10, above which the prices can rise to 87.94 levels. On the flip side, support is seen at 86.21, under which prices can fall to 85.10 levels.

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