Crude oil futures rose during the European session; US market closed

Crude oil futures rose during Friday’s European session while US markets remain closed due to Easter holidays.

At the New York Mercantile Exchange, crude oil futures for May were trading at $83.11 per barrel, marking an increase of 2.16%. Only futures are trading since NYSE and Nasdaq remain closed due to Easter holidays.

Early in the session, it reached a session high of $83.21 per barrel. Crude oil is likely to find support at $80.42 and resistance at $83.21.

The Dollar Index Futures, which tracks the dollar’s trend against the basket of the other six major currencies, increased by 0.20% to trade at $104.27.

Meanwhile, at the ICE, Brent crude for delivery in June rose by 0.05% to trade at $86.99 per barrel, while the spread between Brent and crude contracts remains at $3.88 per barrel.

Natural gas futures also rose during Friday’s session.

At the New York Mercantile Exchange, natural gas futures for May were trading at $1.75 per million British thermal units (MMBtu) as this report was being drafted, marking an increase of 1.98%.

Early in the session, it reached a session high of $1.79 per MMBtu. Natural gas is likely to find support at $1.481 and resistance at $1.789.

In other news, Ukraine’s energy facilities were targeted in a nighttime Russian attack involving missiles and drones, resulting in damage to thermal and hydroelectric power plants in the central and western regions of the country.

The attacks, the largest of which occurred last Friday, have already caused significant damage to Ukrainian generation and transmission facilities, forcing Kiev to halt energy exports and rely on imports.