Crude oil ended higher helped by improving consumer confidence but with gains limited by a rally in the dollar and broadly lower equities. The American Petroleum Institute said inventories gained 6.43 million barrels last week. A U.S. Energy Department report today may show that supplies increased 1 million barrels. Oil refinery strikes in France against an unpopular pension reform were losing steam, with unions sounding more open to negotiations with employers rather than continuing the showdown. Now support for the crude is seen at 3670 and below could see a test of 3643. Resistance is now likely to be seen at 3717, a move above could see prices testing 3737.

Trading Ideas:

Crude trading range is 3643-3737.

Crude oil ended higher helped by improving consumer confidence

Crude looks to test support at 3670 and resistance is seen at 3718.

Today crude oil inventories: Exp: 0.6M Prev: 0.7M