Oil breaks above 102.15 and trade at 3-week highs

FXStreet (San Francisco) - The US oil is trading to the upside on Wednesday amid Ukraine worries. Crude rose from 101.90 to break above the previous highs of 102.15 and to reach fresh highs since April 22 at 102.35.

The WTI is currently pricing at 102.20 ahead of US crude inventories data; market is expecting that inventories continued with its decline as summer session is arriving.

Above the 102.35, the commodity would face resistances at 103.00 ahead of 103.75. On the downside, supports are at 101.85, 101.40 and 101.00.