Crude ended higher on a brighter economic outlook and signs of progress in cobbling up financial support for debt-stricken Greece. Nigeria will export in April at least 1.82 million barrels per day of crude and sales could top 2 million bpd if its Forcados stream pumps at recent rates. Saudi Arabia cut the official selling price for April of most of its crude grades to customers in Asia and Europe and raised most prices to the United States. Now support for the crude is seen at 3638 and below could see a test of 3573. Resistance is now likely to be seen at 3740, a move above could see prices testing 3777.

Trading Ideas:

Crude trading range is 3573-3777.

Crude ended higher on a brighter economic outlook and signs of progress

Nigeria will export in April at least 1.82 million barrels per day of crude

Today crude oil inventories: Exp: 1.4M Prev:3.0M

SELL CRUDE MAR BELOW 3690 SL 3722 TGT 3672-3656-3638.MCX