Crude ended lower on a government report showing weak U.S. oil demand and rising supplies.  Oil inventories rose by 1.9 million barrels in the week ended April 16. The outlook further into 2010 is still for an improving world economy to boost oil demand enough to cause supplies to tighten. China's implied oil demand in March rose 12.3 percent from a year earlier, but less than in February.  Now support for the crude is seen at 3706 and below could see a test of 3673. Resistance is now likely to be seen at 3769, a move above could see prices testing 3799.

Trading Ideas:

Crude trading range is 3673-3799.

Crude ended lower on a government report showing weak U.S. oil demand and rising supplies

Support for the crude is at 3706 and resistance is at 3769.

Oil inventories rose by 1.9 million barrels in the week ended April 16.  

SELL CRUDE @ 3745-3750 SL 3772 TGT 3726-3706-3684.MCX