Crude plunged slammed by concerns about an oil glut in the U.S. Midwest and the possibility of a European economic slowdown. On Thursday Genscape said that crude stored at the delivery hub in Cushing, Oklahoma, rose 500,000 barrels in the week to May 18. Crude imports by South Korea slipped 0.2 percent in April from a year ago due to some crude distillation unit maintenance, Korea National Oil Corp said. Now support for the crude is seen at 3245 and below could see a test of 3179. Resistance is now likely to be seen at 3399, a move above could see prices testing 3487.

Trading Ideas:

Trading Ideas:

Crude trading range is 3179-3487.

Crude plunged slammed by concerns about an oil glut in the U.S.

Support for the crude is seen at 3286 and resistance is at 3332.

Crude imports by South Korea slipped 0.2 percent in April from a year ago

BUY CRUDE JUNE @ 3300 SL 3278 TGT 3334-3356-3370.MCX