Crude settled down as restarted offshore production after a fizzled tropical storm kept oil prices in check but strong U.S. new home sales data and positive corporate guidance lifted equities and supported oil prices. The prices were lower, after Tropical Storm Bonnie fizzled into a tropical depression without damaging refineries on the Gulf of Mexico. Oil stockpiles that remain well above average are keeping crude from pushing higher.  Now support for the crude is seen at 3676 and below could see a test of 3645. Resistance is now likely to be seen at 3733, a move above could see prices testing 3759.

Trading Ideas:

Crude trading range is 3645-3759.

Crude settled down as offshore production restarted after a fizzled tropical storm

Crude oil is taking support at 3676 and resistance at 3733 level

Oil stockpiles that remain well above average are keeping crude from pushing higher.