Oil edged higher in Asia, with WTI futures......>

OIL: Oil edged higher in Asia, with WTI futures adding $0.10 to trade at $63.65,

while Brent futures added $0.30 to trade at $68.30.

- Crude received support from the draw in headline DoE crude inventories on

Wednesday, which was inline with what was seen in Tuesday's API report, while

the more constructive risk backdrop also boosted oil prices during late US

dealing.

- Pressure on WTI's 21- ($63.02) & 55- ($62.74) DMAs resulted in a dip below on

Wednesday, which was aggressively reversed, putting focus back on the Apr 3 high

($63.86). Bulls need a close above this level to gain breathing room, while

bears now look for a close below $62.69 to confirm a break of the 21 & 55-DMAs.