The Norwegian Krone declined, retreating from a 2-week peak hit in the prior session as Norway oil strike expands. Companies and union officials stated that 6 Norwegian offshore oil and gas fields were shut on Monday as …
The Norwegian Krone declined, retreating from a 2-week peak hit in the prior session as Norway oil strike expands.
Companies and union officials stated that 6 Norwegian offshore oil and gas fields were shut on Monday as more workers joined a strike over pay.
According to the Norwegian Oil and Gas Association (NOG), the strike will cut Norway’s total output capacity by just over 330,000 barrels of oil equivalent per day, or about 8 percent of total production.
USD/NOK trades 0.2 percent higher at 9.2216, having touched a low of 9.1788 earlier, its lowest since September 21.
The pair fell below 55-EMA earlier in the day but retraced to trade above the 9.2000 handle.
Immediate resistance is located at 9.2990, close above could take it till 9.3280.
On the downside, support is around 9.1585, break below could take it till 9.1332.
