Crude oil prices rose after U.S. government oil inventory data showed crude oil and refined products stocks fell last week. The U.S. Energy Information Administration said crude stocks fell 475,000 barrels last week. The U.S. National Hurricane Center on Wednesday said Tropical Storm Nicole was starting to dissipate after crossing Cuba and posed no threat to Gulf of Mexico energy operations. Now support for the crude is seen at 3451 and below could see a test of 3393. Resistance is now likely to be seen at 3541, a move above could see prices testing 3573.

Trading Ideas:

Crude trading range is 3393-3573.

Crude oil prices rose after U.S. government data showed crude oil stocks

Crude looks to test support at 3451 and resistance is seen at 3541.

EIA in its weekly report said U.S. crude oil inventories edged down by 500,000 barrels