Crude ended positive despite a government report showing a surprise increase in U. S. oil inventories, as investors instead focused on improving data for the broader U. S. economy. U. S. oil inventories rose 1.1 million barrels last week, according to the U. S. Department of Energy's Energy Information Administration. The stockpile increase follows two months of mostly steady declines after levels reached 27-year highs in September. Now support for the crude is seen at 3887 and below could see a test of 3844. Resistance is now likely to be seen at 3953, a move above could see prices testing 3976.

Trading Ideas:

Crude trading range is 3844-3976.

Crude ended positive despite a surprise increase in U. S. oil inventories

Crude looks to test support at 3900 and resistance is seen at 3950.

U. S. oil inventories rose 1.1 million barrels last week – EIA